Mixed results for Lower Saxony ports Ports in the German state of Lower Saxony, including Wilhelmshaven, Brake, and Cuxhaven, had a challenging year in 2014, with volume gains in forest products, agriproducts, and vehicles largely offset by losses in containers and coal. Overall cargo throughput increased marginally to 46.4 million
Stolt-Nielsen founder dies aged 83 Maritime and offshore industry giant Jacob Stolt-Nielsen has passed away at his home in Oslo aged 83. Stolt-Nielsen oversaw an unbelievable level of success throughout his professional life. The following summarises some of his most notable accomplishments: 1959: Founded Stolt Tankers, now the
Portuscale cancels Funchal cruise programme Portuguese classic cruise ship operator Portuscale Cruises appears to be grappling with new difficulties after announcing it has cancelled the 2015 cruise programme of its recently restored flagship, Funchal. The reasons for the cancellation are not immediately clear. Portuscale Cruises told IHS
Miserable dry bulk market fuels scrapping Scrapping of dry bulk carrier has accelerated in the first weeks of the year on miserable freight rates. At the current pace, the 2015 figure could double that of last year, two shipping analysts warned. "A total of 55 vessels have been reported scrapped to date, including 14 Capes," said Erk
Canada strike disrupts rail freight Talks between Canadian Pacific Railway and the Teamsters Canada Rail Conference have broken off, leaving Canada's second-largest railway bereft of roughly 3,000 locomotive engineers and conductors. The strike was launched by the union on 15 February. "While CP would have preferred a negotiated
Cargo ships help rescue new wave of Mediterranean migrants Two merchant ships helped rescue around 700 migrants off the coast of Libya. Migrants from three rubber dinghies, each containing about 100 people, were brought aboard Malta-flagged container ship MSC Belle, while Panama-flagged LPG carrier Gaz Energy rescued another 100 from a fourth craft.
Co-operative splits over MyFerryLink bid An announcement last week that the employee co-operative that mans the ships of Dover Strait ferry operator MyFerryLink is planning to bid to buy the company has provoked an internal clash between the co-operative's supervisory board and senior managers. On Thursday the co-operative's supervisory
Pirates siphon fuel, plant IED on tanker A Thailand-registered tanker was boarded by eight armed men who siphoned its fuel and planted an improvised explosive device (IED) on the tanker's bridge while it was underway in the Strait of Malacca off Port Klang, Malaysia. The 3,254 dwt vessel, Lapin, was loaded with 2,000 tonnes of bunker oil
COSCO ends FY14 with lower profit despite higher earnings Singapore-listed shipbuilder COSCO Corporation Singapore (COSCO) ended financial year 2014 with lower profits despite a higher turnover. The company's net profit for the financial year ended on 31 December 2014 dived 32% to SGD20.89 million (USD15.4 million) compared with SGD30.6 million in FY13.
Retired oil rig suffers water ingress Retired oil platform SEDCO 709 suffered water ingress while under tow 3.9 nm off Zhoushan, Zhejiang province in China on 10 February, causing the rig to list over, stated Shanghai Salvage Bureau. The 14,000 dwt rig, which is 89-m long, 74-m wide, and 40-m deep, was en route to Zhoushan Changhong
Singapore's January bunker sales up from previous month The Port of Singapore saw a month-on-month (m/m) increase of 2.86% to 3.68 million tonnes in bunker sales for January, according to the Maritime Port Authority of Singapore (MPA). Out of these sales, the most popular marine fuel oil, the 380-centistoke, accounted for 2.76 million tonnes of bunker
Hong Kong captains jailed over 2012 disaster A Hong Kong court today sentenced a former captain, who has been convicted of 39 counts of manslaughter over a deadly vessel collision in 2012, to eight years in jail. Lai Sai-ming, the former captain of high-speed ferry Sea Smooth, was also convicted of endangering the safety of others at sea,
Daelim seals contract for Singapore's new port South Korean construction and chemical conglomerate, Daelim Industrial, said today that it has clinched a contract to execute dredging, land reclamation, and wharf construction for the first phase of building Singapore's new container port. To ensure its port facilities are in line with changes
Standstill persists in ship recycling Cash buyers are left with a substantial inventory of ships as ship recyclers in South Asia have refrained from committing to tonnage in the face of a relentless drop in demand for scrap steel. The influx of cheap steel imports from China has dampened the demand for scrap steel in South Asia, a
Sungdong wins contract for five Suezmax tankers South Korean shipbuilder Sungdong Shipbuilding & Marine Engineering said over the weekend that it has clinched up to five Suezmax tanker orders from a European customer. The contract includes three firm orders for 158,000 dwt oil tankers and options for another two ships. The tankers, priced at
Purchase of old vessels falls in China Chinese shipbreakers' purchase of old vessels dropped 22.4% year on year (y/y) to 1.93 million ldt, equivalent to about 8.3 million dwt, in 2014. The fall was mainly due to the plunge in imports of old vessels, according to China National Ship Recycling Association (CNSA). During 2014, the old
Bankrupt DOT owes USD329 mil. Defunct Singapore-based bunker trading firm Dynamic Oil Trading (DOT) owes approximately USD329 million in gross receivables, according to liquidators from auditing firm KPMG. In addition, DOT also owes approximately USD198 million to more than 100 unsecured creditors DOT is a subsidiary of
KOGAS, shipbuilders sign MOU on KC-1 The Korea Gas Corporation (KOGAS) has signed a memorandum of understanding (MOU) with Hyundai Heavy Industries (HHI), Samsung Heavy Industries (SHI), and Daewoo Shipbuilding & Marine Engineering (DSME) for the continual development of the KC-1-type LNG containment tank. Under the MOU, KOGAS will
AlixPartners acquires Zolfo Cooper Deals will see restructuring specialist expand European activities
Eagle Ocean Marine quintuples cover to $500m American Club-linked fixed premium facility continues geographical expansion
The risks of ordering big ships Amid much speculation about future vessel sizes and speeds, consultants Charles Moret and Andy Lane discuss the risks of ordering 24,000 teu ships and say slow steaming is here to stay
Ferrari warns owners may be ready to switch P&I clubs Cost pressures could force a few to seek the cheapest deal available, says Hawke
US west coast congestion boosts Vancouver volumes Canada's Pacific Northwest ports continue to profit from delays at US rivals
Transatlantic box volumes soar in 2014 The headhaul transatlantic trade lane recorded growth of 9.6% last year
Cosco Corp sees 32% decline in net profits for 2014 Singapore-listed shipbuilder expects offshore orders to slow as oil price drops
Capesize Chartering not seen as violating China's competition regime Words from China Shipowners' Association vice-chairman may offer comfort to member lines
Shifting from defensive to offensive position Container lines must move on from trying to cut costs and instead focus on revenue management
Obama steps in as fears grow of US west coast ports shutdown Update: President asks US Labor Secretary Tom Perez to try to break nine-month deadlock as ship queues lengthen
Wrist Ship Supply sees oil price crash as opportunity to swoop on vulnerable rivals 'Never let a crisis pass you by,' says Wrist chief executive Robert Kledal as he targets smaller rivals
Gard braced for competitive renewal round Service, pricing and battle for newbuildings will see P&I clubs fight it out
Kyklades clinches up to five suezmaxes at Sungdong Update: Greek owner returns to Korean yard as it ramps up crude and product fleet
Bulker master charged for navigating Barrier Reef without a pilot Taiwanese vessel's captain faces a fine if convicted in Australian court
Jacob Stolt-Nielsen dies at 83 Founder of Norwegian chemical tanker leaves a shipping legacy
The shantyman's chorus As long as the rewards in the industry remain squeezed, the real demand is for cheap, rather than UK, seafarers
CP strike ends after railroad, union agree to arbitration Canadian Pacific Railway and union locomotive engineers and conductors have agreed to enter into binding government arbitration, ending a strike that began Sunday and could have severely crippled U.S. and Canadian supply chains. Full freight service is expected to resume Tuesday morning. The announcement, made on Monday afternoon, ends the strike...
UASC to enter North Atlantic trade in May United Arab Shipping Co. on Monday said it will make its debut on the North Atlantic container trade lane in May via a new vessel-sharing partnership with French carrier CMA CGM and Germany's Hamburg-Sud. The Dubai-based carrier will have a weekly allocation of around 3,300 TEUs on a two-way service calling...
Shippers urge increased liner alliance monitoring after latest tie-up The European Shippers' Council urged competition regulators to step up monitoring of deals like the increased collaboration between CMA CGM and Hamburg Sud, which "will make sure the container liner market will be one step closer to total convergence." National competition authorities should agree on a certain number of sensitive data...
US-Mexico cross-border challenges ahead Last year's peak season in Mexico brought about the worst capacity shortage we've experienced in a decade. The imbalance in trade between the U.S. and Mexico left shippers scrambling to find truck and rail capacity as carriers were forced to reposition empty equipment in order to meet the demand. While shippers...
Carrier on-time reliability plunges to new low as rates rise, Drewry says U.S. West Coast port congestion and the phasing in of major shipping alliances pulled global carrier reliability to a record low, adding an extra sting to rising rates hitting shippers, according to Drewry's most recent Carrier Performance Insight report. The sliver of good news in the report, released Sunday, is that...
Low oil prices, shipper pushback nullify low sulfur's impact The low sulfur fuel regulation that came into effect in January on shipping lanes in northern Europe and the U.S. and Canada has had a "virtually zero" cost impact due to the collapse in the price of oil and resistance from shippers, according to Drewry Shipping Consultants. Before the introduction of...
Allcargo Logistics' profit surges despite global cargo revenue dip Allcargo Logistics Ltd.'s group net profit surged 26 percent year-over-year in third fiscal quarter, which ended Dec. 31, despite the Indian logistics provider seeing a marginal decline in international cargo revenue. Third-quarter net income at the company rose to Rs. 71.8 crore (about US $11.5 million) from Rs. 57 crore ($9.2...
Algeciras beats Valencia as top Mediterranean hub but faces challenges The Spanish port of Algeciras maintained its narrow lead over domestic rival Valencia as the biggest Mediterranean container hub in 2014, but it faces a growing challenge from new West African terminals. The southern Spanish port handled nearly 4.56 million TEUs in 2014, around 113,000 TEUs more than Valencia and only...
Drewry: 2014 Congestion cost US West Coast ports up to 150,000 TEUs The U.S. Airforwarders Association supplied this photo showing cargo ships anchored off LA-Long Beach on Saturday, Feb. 14.HONG KONG - Port congestion on the U.S. West Coast is estimated to have caused the diversion of as much as 150,000 TEUs to East Coast ports during 2014, according to Drewry's Container...
Robust January demand keeps Cathay freighters busy Cathay Pacific's freighter schedule was fully operational in January.HONG KONG - Solid freight demand from North American markets saw Cathay Pacific and sister airline Dragonair get the year off to a good start and allowed the carrier to operate an almost full freighter schedule in January.The two airlines carried 147,275...
CSX prepares for US impact of CP strike CSX Transportation has warned that the strike by more than 3,000 Canadian Pacific Railway locomotive engineers and conductors could affect shipments to and from Canada.The U.S. rail operator said in a customer advisory that effects of the work stoppage might halt or delay shipments, "particularly at Buffalo, N.Y., and Detroit,...
Sinotrans & CSC refocuses Merged Chinese state shipping group Sinotrans & CSC is moving to a new headquarters to bring CNY 35bn ($5.6bn) of assets under joint control.
HPH pumps in $50m Hutchison Port Holdings (HPG) is pouring $50m into its Mexican shipyard Talleres Navales del Golfo (TNG).
Golar Viking fetches $135m Golar LNG has offloaded one LNG carrier to Indonesia's PT Equinox for $135m, in a deal first reported by TradeWinds in early February.
No-pax ro-paxes The Philippines has banned the former Sulpicio Lines from carrying passengers nearly seven years after the Princess of the Stars disaster.
Big spenders prosper Leading the world in second-hand investment during the past year has helped Greek shipowners push up the value of the nation's fleet.
Yangzijiang in LNG debut Yangzijiang Shipbuilding set its sights on further gasship orders after confirming its entry into the LNG sector today.
Rasmussengruppen trims down Norway's Rasmussengruppen has reduced its interest in tanker owner DHT Holdings.
GSI lifted by sales China's Guangzhou Shipyard international (GSI) has returned to profit in 2014 after selling non-core units.
Cosco Corp on the slide Cosco Corporation (Singapore) has seen its profit for 2014 halved despite total turnover rising by 20%.
Billionaire buying up stock Hedge fund billionaire Edward C Johnson III has emerged as a fresh shareholder in some of the largest shipowners listed in the US.
Ro-ro refloated An Italian ro-ro ferry has been pulled from a beach south-west of Naples after grounding on 9 February.
Horizon paying less North Carolina-based Horizon Lines has reduced the termination fee to be paid to Matson if the recent takeover agreement between the two parties fails.
Guard found dead A 33-year-old Estonian containership guard has been found dead in the Seychelles.
BW Offshore profit grows Reduced fourth quarter returns did not stand in the way of vastly improved full year profitability at BW Offshore.
Bulker breaches reef zone The master of a Chinese capesize has been arrested after entering a restricted zone in Australia's Great Barrier Reef.
Ukraine crisis hurts ALG Political turmoil in Ukraine and the disposal of a loss-making vessel have seen the UK's All Leisure Group (ALG) log a loss for 2014, but the red figure was smaller than last year.
UASC looks north Middle East line UASC is teaming up with CMA CGM and Hamburg Sud to enter the North Atlantic trade.
Sado posts 2014 loss Japan's Sado Steam Ship has booked a loss for the full year 2014 with red ink running deeper than the company had projected.
Five more for Sungdong Korea's Sungdong Shipbuilding has announced a deal to build up to five suezmaxes for a European owner.
Gulf Nav in profit Gulf Navigation edged back into the black in 2014 as heavy losses in the previous year were erased.
Siem fixes for a year Norway's Siem Offshore is sending a platform supply vessel (PSV) to Brazil for at least a year.
Bomb planted on tanker Asian pirates have planted a bomb on a tanker during an attack off Malaysia.
Newman exits Transocean Transocean chief executive Steven Newman is to stand down with immediate effect, the drilling rig owner confirmed Monday.
Panama carnival slowdown Panama's annual carnival looks set to make vessel transits of the canal a more tortuous process than usual.
Sea Smooth skipper jailed The captain of a catamaran ferry involved in one of Hong Kong's worst maritime disasters has been sentenced to eight years in jail.
Jacob Stolt-Nielsen dies Veteran shipowner Jacob Stolt-Nielsen died at his home in Oslo on Sunday. He was 83.
Cheaper fuel dulls LNG's attractiveness LNG tankers sit idle amid lower demand in Asia.
New port planned for South Sulawesi, Indonesia Construction of $300 million project to be completed by 2017.
Philippine authorities urge ships to rollback fares amid cheap fuel Will summon those who do not comply.
Cost impact of ECA rules has been 'virtually zero' 'But the real cost will be seen once fuel prices start rising again,' says Drewry.
Trust in US West Coast ports 'at an all time low' 'We are entering a period of fundamental supply chain re-evaluation leading some shippers to permanently abandon the West Coast.'
ECA changes could weaken demand, says owner ESL fleet modified to comply with sulphur directive.
Chinese fuel oil demand to fall New regulations will end 'tea pot' refiners' dependence on fuel oil.
LNG players eye inland river market Wartsila teams up with Dutch tech company.
Singapore bunker volumes rose in January Sales of LSMGO up by 38%.
KPI promotes trader Appointment made in Singapore.
Tankoil's removal from supplier list 'unrelated' to OW collapse MPA says investigations into two suppliers found 'discrepancies, unapproved bunker transfers and a breach of contract.'
Bunkering volumes up in Canary Islands New government scheme seen boosting Las Palmas volumes.
South China fuel oil imports up in February Shenzhen-based bonded bunker trader orders twice its volume in January.
Falkland Islands: Firm wins 'exclusive' bunker supply rights Company to hire bunker manager to oversee related operations.
Singapore updates accredited bunker supplier list OW Bunker Far East off list.
Propulsion system on boxship newbuilds to be fuel-efficient Innovation uses modified propulsion system.
Baltic LNG bunkering move mooted Statoil and Litgas link up on project.
Shipping firm admits to illegal dumping of oil bilge water Incident occurred in Alaskan waters last August.
Founder of Stolt-Nielsen passes away Death of Jacob Stolt-Nielsen occurred on Sunday February 15, he was 83.
Port Metro Vancouver experiences 'record year' Says 2014 cargo volumes increased to record-breaking levels for a second consecutive year.
Bunker hedging negatively impacts bulk liquid company $16.6 million lost in Q3 2014 on bunker hedging.
Viswa Lab pegs differences in bunker fuel values close to $50 Latest calculations of its True Worth Index puts Middle East bunker fuel at the top and US Gulf at the bottom.
Malaysia: Oil tanker robbed of fuel cargo Perpetrators escaped with 2,000 mt of marine fuel cargo, reports say.
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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