Euronav acquires four VLCC resales for USD384 million Euronav, the listed Belgian tanker owner, says it has acquired four VLCCs for a total price of USD384 million in a resale deal it describes as in line with three core objectives and that includes four options. It bought the ships, which are under construction at Hyundai Heavy Industries in South
China to complete land reclamation on Nansha islands The land reclamation project on some stationed islands and reefs of the Nansha islands (also known as the Spratly Islands) in the South China Sea will be completed in the upcoming days as planned, said Chinese foreign ministry spokesperson Lu Kang on 16 June. "Apart from satisfying the need of
Migrant flow data will aid maritime intelligence Data on migration flows could help commercial shipping predict where rescue situations are likely, IHS Maritime has been told. Professor Brad Blitz, who is leading the Mediterranean Observatory on Migration, Protection, and Asylum (MOMPA), which was launched this week, said data collected by MOMPA
Despite weak demand side, some optimism in dry bulk Weak demand in dry bulk shipping is likely to plague the sector for quite some time, but other factors give reason to mild optimism about the outlook, shipping analysts said. "The market conditions are devastating and volume growth in 2015 on key trades is negative. The lack of coal imports into
COSCO Corp receives order for research vessel Singapore-listed COSCO Corporation, the shipbuilding arm of the COSCO group, said on 16 June that its subsidiary COSCO Guangdong Shipyard has won an order to build a research vessel. The contract, worth CNY129 million (USD20.8 million), is from an Asian buyer. The contract will become effective
Analyst: Samsung Heavy Industries' FLNG expertise a plus South Korean shipbuilder Samsung Heavy Industries (SHI) is the most attractive shipbuilder in the sector, although the market consensus expects SHI to be the biggest victim of low crude prices, said analysts in their research note. Korea Investment & Securities analysts Kyungja Lee and Hyungjun Ahn
Coal price collapse fuels Australian lawsuits The collapse of the coal price has taken its toll on Australian industry, with AUD354 million (USD274 million) writs flying between Monadelphous Muhibbah Marine (MMM) and the new Wiggins Island Coal Export Terminal (WICET) in Gladstone. On 15 June both WICET and Monadelphous, which holds a 50%
False alarm triggers erroneous missing report for tanker The captain of a Malaysian-flagged LPG carrier that was thought to have gone missing on 10 June has clarified how the erroneous report arose. Silverline Maritime-owned Teknogas had accidentally issued a distress signal at 02:30 h local time that day, as it sailed from Hai Phong, Vietnam to
Mercator Lines fixes Kamsarmax bulker to Clearlake The Singapore unit of Indian bulker owner Mercator Lines said on 15 June that it has fixed one of its Kamsarmax bulkers to Gunvor subsidiary Clearlake Shipping. The 82,459 dwt 2007-built Sri Prem Veena has been fixed to Clearlake for 16 months at USD7,050 a day, representing a 23% premium over the
LPG rates could face downward pressure in 2016 Rates to haul LPG on very large gas carriers (VLGCs) may be heading north, but the situation could change from 2016, a shipbroker cautioned. Speaking at IHS Asia LPG Seminar in Singapore on 16 June, Lorentzen & Stemoco's Gas Department director Anders Lalim said, "The fleet utilisation rate now is
PNG LNG marks 100th shipment PNG LNG, a joint venture (JV) of four oil and gas majors, has marked its 100th shipment with LNG tanker Methane Spirit en route through the Singapore Strait 16 June for Tokyo Electric Power Company Inc (TEPCO). TEPCO was also the same customer that received the project's first LNG shipment in May
Beijing puts COSCO and CSIC on anti-corruption list China's Central Commission for Discipline Inspection (CCDI), the country's top corruption watchdog, announced on 12 June that shipping giants COSCO and China Shipbuilding Industry Corporation (CSIC) were found to have corruption issues. The central inspection team have found corruption and
Thailand expands port development Thailand's prime minister, General Prayut Chan-o-cha, detailed some of the port buildings and initiatives the Thai government is undertaking, in his weekly TV broadcast. These are all to support Thailand's special economic zones (SEZs) development project. Of those developments already under way,
Shipowners cave in to falling scrap prices With no signs of recovery in dry bulk freight rates, ship owners have caved in and sold vessels for recycling despite scrap prices going south. Scrap prices are falling in tandem with freight rates as more and more ships are being offered for recycling. IHS Maritime Sea-web.com data shows that
VLGC rates cross $110/tonne mark Rates to haul LPG on very large gas carriers (VLGCs) have exceeded USD110/tonne as charterers have been fixing ships in both the east and west of Suez. As of 15 June, the Baltic Exchange assessed the benchmark Gulf-Asia Pacific rate at USD116/tonne, up from USD108.063/tonne on 8 June. At current
Japan escorts 15 commercial ships off Somalia in May Japan's Self-Defense Forces (SDF) vessels escorted 15 commercial ships in the Gulf of Aden off Somalia in May to protect them from pirate attacks, the Japanese transport ministry said. The 15 commercial ships escorted by the SDF vessels on seven occasions under Japan's Anti-Piracy Law were all
Sergey Frank elected president of his old university SCF chief executive honoured after signing of agreement that will involve state-owned tanker giant in boosting seafarers' training
CTM supramax alliance doubles member vessels Navios and Nautical Bulk join scheme as RSA outperforms Baltic index
Norden to switch all ships to Lloyd's Register class Deal covers owned fleet and externally-managed vessels
MSC teams up with Hamburg Süd and NYK in Latin America trades New partnerships formed as service shake-ups and ship cascading continue
Aframax earning power doubled in a year Limited fleet growth major factor for aframaxes, which could even see fleet shrink
Data Hub: Load Factors Overcapacity weakens transatlantic utilisation
Shippers' champion Chris Welsh awarded MBE Campaigner recognised for his services to shippers and shipping
Empty boxes push up west coast throughput figures Empty repositioning shows that ports are still rebalancing containers dislocated by winter trade slowdowns
Guide to current tanker and gas carriers markets Snapshot of current tanker and gas carriers markets including forecasts
UASC's entrance into the big ship league fuels LNG debate Carrier's new LNG-ready giants are likely to fulfil their clean fuel potential
Cosco Corp wins $21m research vessel order Vessel is expected to be delivered in late 2017
Dorian adds new VLGC to Helios pool New York-listed player also signs new time charters
Euronav in $392m deal for Metrostar VLCCs Update: Deal gives Euronav the option to acquire up to a further four sister VLCCs at $98m
Capital Product locks in rising product tanker rates Kalogiratos steps up to chief executive of Nasdaq-listed partnership
APMT to add cranes, capacity at Mobile port APM Terminals will add two super-post-Panamax cranes at its terminal at the Port of Mobile, Alabama, and expand the port's container terminal by 20 acres. The expansion will double the number of ship-to-shore cranes at the port and increase the terminal's annual capacity to 475,000 twenty-foot-equivalent units from the current 350,000...
Dagnese named president of Con-way Freight Joseph M. Dagnese is the new president of Con-way Freight, the second-largest U.S. less-than-truckload carrier. A 20-year Con-way veteran, Dagnese replaces W. Gregory Lehmkuhl, who resigned to become CEO of a private-equity-owned company. "Joe brings an impressive array of lean management skills, strategic insight and leadership qualities to Con-way Freight," Douglas...
Containers for world's first LNG-powered container ships arrive at JAXPORT JACKSONVILLE - Stevedores at JAXPORT's Blount Island Marine Terminal this week unloaded the first shipment of brand new 53-foot Wide-Top Pick (WTP) cargo containers for use on TOTE, Inc.'s new Marlin Class ships, the world's first Liquefied Natural Gas (LNG)-powered container ships. TOTE is the parent company of Jacksonville-based Sea Star...
CEVA launches 'TireCity' hub in Italy MILAN - CEVA Logistics, one of the world's leading supply chain companies, today announced the launch of TireCity in Italy. The hub, which covers an area of 50,000 sq m, is strategically located in Somaglia, in the province of Lodi, and is fully dedicated to the warehousing, handling and cross...
Swaziland signs Tripartite FTA, growing area to 16 nations The Kingdom of Swaziland became the 16th State to sign the COMESA-EAC-SADC Tripartite Free Trade Agreement. His Majesty King Mswati III signed the FTA Agreement Monday 15 June 2015 five days after the official launch of the Tripartite Free Trade Area by Heads of State and Government in Sharm El Sheikh...
Lower fuel prices benefit shippers as US freight volumes rise Freight shipments within the U.S. hit a 2015 high point in May, rising 2.3 percent from April, the fourth straight month of rising volumes, according to the Cass Freight Index. Shipper spending on transportation rose more slowly, climbing 1.5 percent from April, Cass reported. Both freight volumes and shipper expenditures were...
Virginia, corps to share cost of dredging feasibility study The Port of Virginia and U.S. Army Corps of Engineers have signed an agreement to share the cost to study the feasibility of deepening Hampton Roads port channels to as much as 55 feet. The agreement starts the clock on a three-year schedule to complete the study of dredging the Norfolk...
How Collaboration Reduces Your Global Supplier Risks How Collaboration Reduces Your Global Supplier Risks Today's supply chains are increasingly complex, and companies must manage risks both proactively and reactively to avoid disruptions like quality issues, shipment delays, product shortages, and excessive expediting costs. Download this white paper to discover the strategies your organization can employ to minimize supply chain...
Maasvlakte receives three more mega-ship cranes The Port of Rotterdam continues to position itself as a pre-eminent European port of call for mega-ships with the arrival of three new cranes at the ECT Delta Terminal at Maasvlakte. The cranes have a lifting height of 50 meters (164 feet) and a reach of 24 containers wide. The new...
Brookings Institution calls for sweeping reforms in US freight policies WASHINGTON - The U.S. government needs to take on sweeping reforms and new national policies if it intends to address the mounting congestion at the nation's major port cities, the Brookings Institution said in a pair of new reports released today. According to the Washington, D.C.-based think tank, it is the...
Toys "R" Us opens French distribution center Toys"R"Us has opened a 550,000-square-foot distribution center in Saint-Fargeau-Ponthierry, France, to consolidate operations previously performed by three fulfillment centers in the country. The new DC is 47 kilometers (29 miles) south of Paris. It will serve 48 retail stores and e-commerce operations in France, along with order fulfillment to customers in...
FMCSA shuts down trucking companies in IL, GA WASHINGTON - The U.S. Department of Transportation's Federal Motor Carrier Safety Administration (FMCSA) in separate actions has ordered Payson, Illinois-based Rhino Displays, USDOT No. 1474447, and Hampton, Georgia-based Prudential Carriers, Inc., USDOT No. 248188, respectively, to immediately shut down following federal investigations that revealed numerous widespread violations of critical safe
Herfurth Logistics in Belgium and Turkey joins XLProjects Herfurth Logistics - a Herfurth Group Company - is an international freight forwarding and logistics company with European roots, active since more than 100 years. They have their own offices in 7 strategic locations and can count on the support of an extended worldwide network. This enables them to offer a complete...
AirBridgeCargo traffic soars, outpaces euro rivals LONDON - AirBridgeCargo's traffic soared 16 percent in the first five months of the year as Russia's largest all-cargo carrier continued to outperform its struggling European rivals. The increase to 180,605 tonnes (198,600 tons) was flanked by the launch of new services and additional frequencies on existing routes that saw traffic...
CMA CGM beefs up Turkish service CMA CGM has strengthened its services to Turkey by adding a call to the port of Iskenderun in order to serve rising demand for raw materials that are converted into industrial inputs and finished products. With the addition of Iskenderun, the French carrier now calls at 13 Turkish ports throughout its...
Indian exports and imports take steep tumble India's merchandise exports fell for the sixth consecutive month in May, the longest streak of declines since 2009, even as the Narendra Modi-led government rolled out a spate of schemes to stimulate manufacturing output and spur domestic demand. Exports in May tumbled 20.2 percent from a year earlier to $22.3 billion,...
EVA Air finally runs out its freighter order book EVA Air is the last Asian carrier to use MD-11 freighters, but it plans to get rid of the gas-guzzling planes by 2017.HONG KONG - EVA Air has committed to purchase five Boeing 777 freighters at a list price of $1.5 billion at the Paris Air Show as the Taiwan...
New container ship design rules will push up price tag New global requirements on the construction of large container vessels aimed at reducing the risk of catastrophic structural failure will likely increase the price tag for carriers, reducing the economies of scale carrier operators gain via massive ships. The International Association of Classifications Societies' adoption of new unified requirements comes...
China committed to reforming its state-dominated shipping sector HONG KONG - A look at the accompanying graphic reveals the integrated and complex nature of China's state-owned shipping ownership structure - a dizzying maze of companies and subsidiaries, many interconnected and several with dual listings on the Hong Kong and Shanghai exchanges.It is all administered by the State-owned Assets...
A dip in mid-2016 ship deliveries could boost carrier results, Goldman says HONG KONG - The second and third quarter of 2016 could provide a sweet spot with fewer vessel deliveries enabling container lines to improve load factors and profitability on the battered Asia-Europe trade.From April through September, 15 vessels with a capacity greater than 10,000 twenty-foot-equivalent units will come online, compared...
UPS Capital buys jewelry logistics firm UPS Capital, a subsidiary of the same-named parcel carrier, recently announced its acquisition of Parcel Pro, the leading independent logistics provider for the jewelry, wristwatch and collectibles industries. Terms of the deal were not disclosed. Both firms have hailed the acquisition as a boon for customers in the luxury accessories industry,...
Courage returning to Germany An American Roll-On Roll-Off Carriers (ARC) car carrier is returning to Germany after suffering a fire off the United Kingdom earlier this month.
Houston channel shuttered The Houston Ship Channel is likely to remain fully closed until late night Wednesday for outbound traffic as a result of Tropical Storm Bill.
Fredriksen grows GOGL stake John Fredriksen's holding in bulker owner Golden Ocean has been boosted following a special dividend from sibling Frontline 2012.
LR scoops Norden fleet Denmark's Norden has transferred its entire fleet of owned and managed vessels to Lloyd's Register (LR).
CTM pool on the rise A supramax alliance formed last year starts 2015 by outperforming the Baltic Exchange index.
Cash was king for Euronav Paddy Rodgers says cash was key to helping Euronav secure the much-admired Metrostar VLCC newbuilding fleet.
Maersk tries for rate rise Denmark's Maersk Line is aiming for a substantial rate rise between Asia and northern Europe.
Yard mulls legal fight A Canadian yard is considering legal action after missing out on a CAD 40m ($32m) state ferry contract.
GMI in pool push Global Maritime Investments is opening its doors to third party owners with the launch of the industry's "first serious panamax and kamsarmax pool".
Sincere earnings slip Sincere Navigation of Taiwan has seen profit cut in the first quarter as costs rose.
No more wounds for SALT Scorpio Bulkers's latest call on investors may have hurt its share price but a leading Wall Street analyst believes it has secured the shipowner's survival for the next few tough years.
SapKen makes less Malaysian offshore owner sees revenue and profit drop during first quarter.
New Suez Canal to open Egypt's New Suez Canal will open on 6 August after an $8bn expansion project.
Neste sells last tankers Finland's Neste Oil has exited shipowning as it sold its two last chemical/products tankers to Sweden's Donsotank.
Duo jailed for 12 years The master and first officer of a North Korean cargoship have been jailed for 12 years for arms trafficking.
Dry rates 'devastating' A momentous over supply in the dry cargo market will require owners to adapt in order to restore profitability, Bimco says.
Austal wins offshore order Australian shipbuilder Austal has won an AUD 20m ($26m) contract for a new crew catamaran.
Donsotank snaps up duo Sweden's Donsotank has returned to the second-hand market after two years with the acquisition of two chemical/products tankers from Neste Oil of Finland.
Dorian deals stronger Dorian LPG has secured two VLGC time charters at better than expected rates, Wells Fargo Securities says.
Euronav's bargain quartet Euronav has completed the purchase of four VLCCs from Metrostar at a price below what tanker experts believed it was set to shell out for the ships.
Ferry strike threat Scottish ferry workers could strike over a new £1bn ($1.55bn) tender for west coast services.
GA called on Maersk fires General average (GA) has been declared on two recent shipboard fires involving Maersk Line containerships.
ADM adds agency Commodities group Archer Daniels Midland (ADM) has snapped up a Brazilian port and shipping agency.
MMHE scoops conversion Malaysia Marine and Heavy Engineering (MMHE) has won contracts including LNG carrier repairs and an FSO conversion.
Cosco books research order Cosco Corp (Singapore) has secured another small offshore-related newbuilding contract worth CNY 129m ($20.8m).
Third time lucky for Dalian The receivers of bankrupt shipyard STX Dalian are set to hold a third auction after two previous attempts to sell its assets failed.
Statoil opts for Odfjell Statoil has awarded Odfjell Drilling two contracts for drilling wells on the Johan Sverdrup field in deals worth NOK 4.35bn ($560m).
Geden bulker arrested A Geden Lines-controlled handymax bulker has reportedly been arrested in Singapore, TradeWinds has learnt.
Spliethoff sues over damage Spliethoff is suing a US terminal operator and an equipment operator after a locomotive being offloaded from a vessel dropped onto a dock in Gabon.
'New' Suez Canal to open in early August Waterway will be connected to Suez Canal via four small channels.
US Navy, Australia discuss biofuel plant project Three potential sites identified.
Freight rates 'failing to cover bunker costs' 'Unless by a miracle demand grows, we are up for heavy losses.'
Cheap bunkers undermine China's LNG ambitions As does the lack of conversion subsidies, analysts say.
DFDS fuel use at record monthly low Switch to MGO in ECAs has helped but was not a major actor.
Handymax held at Singapore Reasons for detention unclear.
Kuala Lumpur-listed firm narrows bunkering losses Notes purchase of a MFM bunkering system for operations at Sapangar Bay in 2014.
Environment agency wants ships to switch to shorter route Using 200-year old canal 'can save fuel and cut GHG emissions'.
US Navy and Australia discuss biofuel plant project Three potential sites identified.
Bunker prices under pressure, say Singapore traders 'The market is flooded with oil and everyone is desperate to sell quickly.'
European shipowner buys hybrid scrubber To meet European ECA sulphur rules.
Brightoil expanding into e-commerce operations Based on Chinese government policy to modernise traditional industries, it says.
'Hijacked' tanker search complicated by delayed reporting Shipowner 'waited too long' to alert Malaysian authorities.
China fuel oil imports expected to fall BP starts moving fuel oil cargo to Shenzhen as part of JV arrangements.
NSW sulphur regulation to impact 'only 3%' of ship activity Targeting only cruise sector means majority of ships can continue to burn high sulphur fuel.
Mobil update: Bunkering possible at Tauranga Harbour But fuel oil pipeline remains closed.
'Highjacked' tanker search complicated by delayed reporting Shipowner 'waited too long' to advise Malaysian authorities.
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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