Cruise ship brings relief to Kos migrant crisis One of Mediterranean's largest cruise ships has arrived at the Greek island of Kos to assist with its overwhelming influx of migrants. Eleftherios Venizelos will serve as a floating registration and accommodation shelter, as Greece faces its greatest migrant crisis for decades. The Ministry of
Hercules files reorganisation plan Jackup rig and liftboat specialist Hercules Offshore has filed a Chapter 11 reorganisation plan after being hit hard by languishing oil prices. The pre-packaged plan, filed 13 August, provides for more than USD1.2 billion of the company's outstanding senior notes be converted to 96.9% of new common
SCI continues to hit profit trail Government-owned Shipping Corporation of India (SCI) has continued to hit the profit trail, posting a net profit of INR1.63 billion (USD25 million) for the first quarter ending 30 June 2015, benefiting from the rally in tanker markets. Turnover, however, dropped slightly to INR10.9 billion against
Lauritzen issues profit warning J Lauritzen Holding, the privately-owned Danish dry bulk and small LPG carrier owner, has issued a profit warning after reporting deep interim losses and booking a heavy impairment charge. Group net loss in 2Q15 amounted to USD117.6 million compared with a profit of USD27.0 million in the same
Union wins court injunction against Hutchison Ports Australia The Australian Federal Court yesterday, 13 August, granted a temporary injunction preventing Hutchinson Ports Australia making 97 dockworkers in Brisbane and Sydney redundant. Workers at both Hutchison's Sydney and Brisbane terminals were sacked by text and email in the middle of the night of 6
Pan Ocean ends 2Q15 in red Singapore-listed shipowner Pan Ocean plunged to a loss of USD157 million for the second quarter ending 30 June 2015 from a profit of USD323.9 million in the same period a year ago. Its revenue declined 0.1% year-on-year to USD378.7 million, while its gross profit was USD58.3 million, down 17.7%.
CMES profit surges 120% y/y in 1H15 China Merchants Energy Shipping (CMES) has announced its profit surged 120% year-on-year to CNY558.3 million (USD87.2 million) in the first half of 2015. This resulted from the prosperity in the international crude shipping market, the acquisition of Nanjing Tanker's VLCC fleet, and a jump in CMES'
EU deal means Greece also faces shipping tax increase The new bailout deal between the Greek government and creditors includes measures in which Greece's shipping industry will also be subjected to tax rises. Among other measures, tonnage tax - for ships with Greek and foreign flags - will increase by 4% annually, for the four-year period 2016-20.
Indonesia nabs slave ship In a sign of increasing government toughness against the use of slave labour in the fishing sector, the Indonesian navy has pursued and seized a vessel believed to have been involved in the trade. Silver Sea 2 was stopped by the Indonesian navy in the east Indian Ocean some 130 km off Sabang, in Indonesia's Aceh province, in the early morning
Otto Marine dives into $2.5m loss in 2Q15 Singapore-listed offshore services provider Otto Marine posted a loss of USD2.5 million for the second quarter ended 30 June 2015, from a profit of USD18 million recorded in the same period in 2014. The company's revenue dropped 36.4% year on year (y/y) to USD71.2 million in the second quarter of
Sinotrans Shipping sinks to $18.3m loss in 1H15 Hong Kong-listed Sinotrans Shipping incurred a loss of USD18.3 million for the first six months in 2015 because of the depressed bulk shipping market in early 2015. Revenue dropped 19% year on year (y/y) to USD485.1 million , a stock filing of Sinotrans Shipping said on 14 August. To stabilise
Singapore awards $1.86m in maritime scholarships The Singapore government, in collaboration with maritime businesses and local seafarer unions, on 13 August awarded SGD2.6 million (USD1.86 million) in maritime scholarships for students taking up maritime studies. Fifty-eight students received the funding at an awards ceremony held at the Conrad
Frank Chapman steps down from Golar LNG Dan Rabun to succeed Mr Chapman as chairman of the LNG company
Asia-Europe rates tumble again Freights rates to northern Europe and the Mediterranean slump by more than 20%
Trend of declining Asia-Europe volumes continues in June Economic woes hinder container growth on key east-west trade but global box traffic is on the up
Two engines better than one for new Triple-Es Maersk opts to continue with twin propulsion system for next generation 19,630 teu ULCs
Sinotrans in the red for the first half of 2015 Dry bulk revenues fall 22%
Omani port agent seeks arrest of ill-fated Seaman Guard Ohio in India Agency claim seeks arrest of vessel for unpaid bills by Advanfort as detained crew remain in Indian Jail. India also contesting Italy's attempt to have Enrica Lexie marines tried in Italy
Imtech agrees sale of marine division Pon Holdings and Dutch private equity take control of Imtech Marine
Maersk bans calcium hypochlorite shipments Fire on Maersk Seoul last month prompts order
Tianjin blast toll assessment underway UPDATED: port gradually resuming operations after massive explosions
Maersk recaptures market share as Skou warns of continued price deflation Update: Danish carrier changes tack after admitting its 2015 trade forecasts were 'completely wrong'
LA, Long Beach stand to lose most in wake of Tianjin explosions Port of Los AngelesIt will be roughly two weeks before U.S. ports can truly determine how much impact the explosions at Tianjin, the world's tenth-busiest port, will have on traffic. Long Beach and Los Angeles stand to lose the most cargo, as in the first half of 2015 they handled 34...
Port of Oakland imports jump in July despite labor shortages Imports at the Port of Oakland were up for the fifth consecutive month in July, which is good and bad news for the port, which has struggled to find enough hands to meet its growing demand in recent months. That is changing, port officials said Friday, and August should see Oakland's...
Houston port casts wider net for container imports The Port of Houston hopes its smooth handling of thousands of diverted Asian import containers this year will convince shippers to stick with the Texas port instead of returning to more familiar West Coast intermodal routes. Houston proved itself as an efficient alternative to West Coast gridlock this year, said Roger...
Stakeholders wage battle for Brazil's port beauracracy A political battle is brewing in Brazil as stakeholders spar over the future of the country's Special Ports Ministry, or SEP, in a contest that may determine how future of container trade development. As the Brazilian economy stagnates, finance Minister Joaquim Levy is threatening to move the SEP back into the...
Tianjin container operations returning to normal after explosions Port of Tianjin with cranes of the Five Continents Container Terminal in the background.Container operations at the Port of Tianjin are returning to normal after two explosions rocked the 10th largest global container port and the main gateway serving Beijing. Container ships previously anchored and awaiting entrance to the port have...
Slide show: Top 10 largest container ship classes Mega-ships have come to dominate conversations in carrier boardrooms, halls of policy, and ports around the world as the industry contemplates and discusses the costs and benefits of these engineering marvels. One thing that cannot be denied, however, is that these ships are here to stay. As such, we have compiled a list of the Top 10...
Aussie union wins injunction against Hutchison layoffs An Australian federal court Thursday granted a temporary injunction preventing Hutchison Ports Australia from making 97 dockworkers in Brisbane and Sydney redundant, allowing the workers to return to work after they had been locked out earlier this month. The court order, issued by Justice Barry Rangiah, who agreed with the union...
FedEx Trade Networks names Lange executive VP, COO FedEx Trade Networks, the growing freight forwarding and customs brokerage arm of the global shipping giant, has named Udo Lange its executive vice president and chief operating officer. Udo LangeIn his new position at FedEx, Lange will be responsible for overseeing all global air and ocean freight forwarding and customs brokerage...
HHLA earnings up, volume down HHLA Terminal, Port of HamburgLONDON - HHLA's operating profit edged 1.5 percent higher in the first half of the year even as Hamburg's largest stevedore handled 10 percent fewer containers due to a slump in Russian imports and China's slowing economic growth. Earnings before interest and tax rose to 82.6 million...
Newfound support for carrier alliances A recent JOC.com story, "Shippers view carrier alliances as bulwarks for competition," detailing shippers' newfound appreciation for ocean carrier alliances struck me as a distinct change in tone and substance from the long-held view that alliances were viewed as potential instruments of collusion. With a possible shakeup in alliances in the air...
Shreyas Shipping reports profit on back of intra-Asia growth Shreyas Shipping and Logistics swung to a Rs. 16.52 crore (about $2.54 million) net profit in the first fiscal quarter, from a loss of Rs. 19.66 crore ($3 million) a year earlier, as India's fast-growing short-sea ship operator acquired new ships and significantly expanded its service network. Revenue during April to...
More carriers slap surcharges on Jawaharlal Nehru cargo More ocean carriers have announced emergency surcharges for Jawaharlal Nehru Port-bound cargo to offset extra costs caused by the week-long shutdown of APM Terminals' Gateway Terminals India. Singapore-based container operator APL said it will charge $150 per 20-foot-equivalent unit, $300 per 40-foot-equivalent unit (including high-cube) and $400 per 45-foot-equivalent unit for...
Geodis near closing acquisition of Ozburn-Hessey Logistics LONDON - Geodis, France's largest transport and logistics operator, is said to be on the verge of clinching an $800 million acquisition of U.S.-based Ozburn-Hessey Logistics in the latest cross-border consolidation of the global logistics industry. The subsidiary of SNCF, France's state-owned railway, will strike a deal with OHL's New York-based...
HHLA profit up despite East Europe woes HHLA Terminal, Port of HamburgLONDON - HHLA's operating profit jumped 10 percent in 2014 as the largest container handler in the port of Hamburg shrugged off lower Russian feeder shipments and a slump in traffic at its Ukraine terminal that left total volume unchanged from the previous year. Earnings before interest...
Asia-Europe rate lives up to revenue-ruining reputation
HONG KONG - The Asia-Europe trade was carrier enemy number one this week as two of the world's most profitable container lines blamed weaker revenues on the chronically underperforming route, and spot rates duly responded by tumbling a further 23 percent this week.Maersk Line and OOCL this week both announced...
No liner exemption until competition law passed, HK authority says HONG KONG - No decision on a block exemption for Hong Kong's container shipping industry will be made before the new competition law comes into effect on December 14, leaving the container shipping industry in the bizarre position where its activity will be illegal from that date.The HKCC said in...
Long Beach has best month ever in July Port of Long BeachThe Port of Long Beach in July had its best month ever, as peak-season cargo began to build and some cargo shifted to Long Beach from other ports. According to numbers released Thursday by the second largest U.S. port, loaded import containers increased 16.2 percent from July 2014,...
Asia-Europe rate lives up to revenue-ruining reputation HONG KONG - The Asia-Europe trade was carrier enemy number one this week as two of the world's most profitable container lines blamed weaker revenues on the chronically underperforming route, and spot rates duly responded by tumbling a further 23 percent this week.Maersk Line and OOCL this week both announced...
No liner exemption until competition law passed, HK authority says HONG KONG - No decision on a block exemption for Hong Kong's container shipping industry will be made before the new competition law comes into effect on Dec. 14, leaving the container shipping industry in the bizarre position where its activity will be illegal from that date.The HKCC said in...
Safety data show long-term drop in trucker hours violations A survey of federal safety data shows a significant decrease in truck driver hours-of-service violations from 2011 through 2014, but an uptick in some violations last year. From 2011 through 2014, the number of violations roadside inspectors handed to drivers for exceeding the 11-hour driving limit dropped 35.8 percent, Federal Motor...
Long Beach has best month ever in July The Port of Long Beach in July had its best month ever, as peak-season cargo began to build and some cargo shifted to Long Beach from other ports. According to numbers released Thursday by the second largest U.S. port, loaded import containers increased 16.2 percent from July 2014, loaded export containers...
UTi Worldwide launches China-Europe rail service Shippers looking to use rail between Europe and China have another option to consider as companies continue to add services to the rapidly growing corridor. UTi Worldwide has launched a weekly 15-day service from Harbin, China to Hamburg, Germany on a service called the "Iron Silk Road," a reference to China's...
Creditors OK BLT deal Creditors of Berlian Laju Tanker (BLT) have approved a deal that will hand over much of the Jakarta tanker owner's fleet to a group of private equity firms led by Kohlberg Kravis Roberts (KKR) and York Capital.
Pangaea bolsters Nordic stake Pangaea Logistics Solutions said it hiked its stake in Nordic Bulk Carriers to 99.5% as it revealed a surge in second-quarter profit.
Thoresen sees red in Q2 Singapore's Thoresen Shipping slipped into the red in the second quarter despite outperforming the market.
ESL profit edges down Term contracts save Finnish bulker owner from the worst of a dire Q2 market.
Anglo Eastern and Univan merge Anglo Eastern and Univan are combining in what will be the largest ever merger in the ship management sector.
All change at Golar Golar LNG chairman Sir Frank Chapman is stepping down to focus on other interests.
Odfjell looking to sell Odfjell Drilling is looking to offload a drillship which has been idle since May and has no contracted work for the time being.
Swiber in the red Fewer contracts have dragged Singapore's Swiber Offshore to a net loss for the second quarter of the year.
Markets split Anchor-handler (AHTS) rates have improved in the North Sea spot market as the tonnage supply dried up.
Come in number three Maersk Line has brushed off any concerns about increased competition from an anticipated merger of Cosco and China Shipping.
Allcargo buys two Indian coastal player Allcargo Shipping has acquired two general cargoships, according to local media.
Meling wins protection Norway's OH Meling Tankers has limited its liability for damage to an underwater Singapore power cable allegedly caused by one of its tankers.
Otto logs red ink Otto Marine has posted a loss for the second quarter on the back of lower rates and a smaller fleet.
Crewman airlifted The US Coast Guard has evacuated a crewman from a containership after he reported suffering symptoms of appendicitis.
Oakland figures decline The port of Oakland saw a reduction of 11% on products handled through its facilities during the first six months of the year.
Norstar funds LR1 duo Norstar Shipping of Singapore has secured financing to acquire two LR1 product tankers.
TUI cruise profit rebounds German group TUI's bigger cruiseship fleet has returned to profit in the third quarter.
Ferry to house refugees The Greek government is sending an Anek Lines ro-pax to Kos to cope with the influx of Syrian refugees on the island.
Navig8 Chem off the mark Navig8 Chemical Tankers has turned in a profit during its first quarter with a significant fleet on the water.
Evergreen back to red Taiwan's Evergreen Marine has posted a slim loss in the second quarter as revenue dipped.
Sinotrans suffering Sinotrans Shipping has logged a bigger loss in the first half in "depressed" markets.
At arm's length We take a look at what was said in the market over the past week.
Tianjin re-opens Even though the scene on the ground may look like the aftermath of a nuclear holocaust and the full extent of the damage has yet to be tallied, authorities in charge of the disaster hit Port of Tianjin have begun to restart operations.
Heavy-lifter arrested Zhejiang Share-Ever Business Co's 37.900-dwt semi-submersible heavy load carrier Xia Zhi Yuan 6 (built 2012) has been arrested in Singapore.
TEN Declares dividend Tsakos Energy Navigation has announced that holders of its Series D Cumulative Perpetual Preferred Shares will get a dividend payout of $0.72 per share.
TCT Glory fate considered Creditors of the arrested South Korean-owned logger-bulker TCT Glory (built 1997) were hoping this week that the High Court of Singapore would approve their request an for extra-judicial sale, a disposal method that the court has shown a reluctance to sanction in recent years.
Vessel owner fined for fuel spill off Washington Could face additional fine from the Department of Natural Resources.
'Subsidised fuel oil' distorting Panama prices 'Someone is bringing contraband [fuel oil] into Panama.'
Two vessels being sought as hijack search intensifies 'We believe the ships could be in Indonesian or Singaporean waters,' says maritime official.
Firm expands bunker trading ops to India, Turkey Company earlier started operations at Hamburg with ex-OW Bunker traders.
Cruise lines ECA exemption causing concern 'We are just starting to see a majority of the cruise lines using low-sulphur fuels now, midway through the 2015 season,' says Alaska environmental official.
Falling bunker prices offer lifeline for tanker operators VLCC rates are at 10-month lows.
Two vessels being sought as hijack search itensifies 'We believe the ships could be in Indonesian or Singaporean waters,' says maritime official.
Firm expands bunker trading ops to India and Turkey Company earlier started operations at Hamburg with ex-OW Bunker traders.
India: Men arrested over illegal diesel sales Oil allegedly stolen from ships along country's western coast.
Profits rise for Hong Kong bunker supplier Sales of MGO to become 'major profit source' for firm's business.
Bunkering operations halted at Tianjin port Deliveries estimated to be interrupted for two days, says supplier at port.
New adviser for Russian bunker supplier Former head Anatoly Savkin takes on new role.
Deltamarin unveils LNG-ready boxship design Vessel will have 'excellent fuel efficiency'.
Global Risk Management grows bunker trading team Michael Korsager Nielsen has been added as a senior trader to its Middelfart office.
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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