Hamburg Süd seals CCNI deal German liner company Hamburg Süd has confirmed the long-awaited signing of its purchase agreement for the container line business of Chilean shipping group CCNI. The takeover, confirmed on 17 February, includes the general agency functions of Agunsa Agencias Universales on behalf of CCNI. Subject
Winland seeks bankruptcy protection Winland Ocean Shipping, a Dalian, China-based owner, has filed for US Chapter 11 bankruptcy protection in Texas. According to court documents reviewed by IHS Maritime, Winland Ocean and its affiliates own three vessels: the 860 teu container ship Winland Dalian, the 56,928 dwt bulker Rui Lee and
Canada rail strike ends quickly A national rail strike that threatened to shut down a large segment of Canada's container, bulk and breakbulk traffic ended just a day after it began. On 16 February, Canadian Pacific Railway and the Teamsters Canada Rail Conference announced that they would submit to mediated arbitration. The
CMA beats Hapag, says Moody's French liner company CMA CGM may have an advantage over its German peer Hapag-Lloyd when tapping the capital markets for future fleet investments, assessments by rating agency Moody's suggest. In a report entitled 'Shipping: CMA CGM and Hapag-Lloyd: Peer comparison', the agency points out that the
Madagascar to host maritime information centre Work is to start next month on a regional maritime information centre (RMIC) for the western Indian Ocean. The European Union-funded project, initiated by the Indian Ocean Commission (IOC), will be located in Madagascar, it was decided at last week's African Union (AU) maritime security meeting in
China Ocean Shipbuilding Industry to raise USD8 million Hong Kong-listed China Ocean Shipbuilding Industry has reached an agreement with three individuals to raise HKD60 million (USD8 million) by selling convertible bonds. About HKD31.1 million of the net proceeds will be used to fund the development and investment of the group's financial leasing
Impairment charge hits reforming Eitzen Chemical A heavy impairment charge in 4Q14 dragged Eitzen Chemical deep in the red, according to the listed Norwegian chemical carrier group. Group net loss in 4Q14 deepened to USD114.1 million from USD23.7 million in the same period in 2013, with a USD74.5 million impairment charge being the main cause,
Kintetsu World Express to buy APL Logistics Neptune Orient Lines (NOL) said today that its logistics arm APL Logistics will be sold to Japanese airfreight forwarding company Kintetsu World Express (KWE) for a fee of USD1.2 billion. APL Logistics was put on sale last year as NOL sought to raise funds amid a poor container shipping market.
Police to probe 'indecent' fuel contract A 15-year monopoly contract to supply Mauritius with fuel has been terminated and will be subject to a criminal investigation, Roshi Badain, the country's financial services minister, has promised. The previous Labour administration of Navin Ramgoolam signed the deal in 2009 with Betamax, a company
Smuggler sentenced as more migrants leave Libya The Assize Court in Agrigento, Italy, has sentenced Somali national Mouhamud Elmi Muhidin to 30 years in prison for his part in the brutal Mediterranean migrant smuggling trade. After charging migrants - mostly Eritreans and Somalis - USD3,000 for their passage to Europe, Muhidin and his gang
Fortescue profits plunge 81% Australian Fortescue Metals Group announced today a slump of 81% in profits for the second half of 2014 despite pumping out record shipments - up 53%, as compared with the corresponding period the previous year. Profits were USD331 million, compared with USD1.7 billion for the first half last year,
Ship security man found dead in Seychelles port A member of a ship security team has been found floating in the harbour at Port Victoria commercial port in Seychelles. Kivi Meelis, an Estonian national, was working aboard box ship Julie Delmas as part of the security team provided by Poole, UK-based private maritime security company (PMSC)
DSME client converts LNG carrier orders into VLCCs Daewoo Shipbuilding & Marine Engineering (DSME) said today that a customer that ordered two LNG carriers in October 2014 has asked to convert the orders into four very large crude carriers (VLCCs). South Korea's third biggest shipbuilder said the order came from an Oceania-registered shipowner. It
Ship master fined for navigating without a pilot An Australian court fined a master of a coal ship AUD8,500 (USD6,239) today for attempting to navigate the Great Barrier Reef without a pilot. Taiwanese national Lu Chih-Ming was nabbed in a joint operation between the Australian Federal Police and the Great Barrier Reef Marine Park Authority
VLGC rates cross USD100/tonne mark Freight rates to ship LPG on very large gas carriers (VLGC) crossed the USD100 per tonne mark for the first time this year as growing cargo demand helped to absorb almost every available ship. The Baltic Exchange yesterday assessed the benchmark Gulf-Asia Pacific route at USD102.50/tonne, up
First case of fake explosive use in fuel siphoning A tanker fuel siphoning incident last week marked the first time fake explosives were used to threaten crew. IHS Maritime reported yesterday that Thailand-flagged tanker Lapin was boarded by eight men armed with pistols and knives on 13 February at 19:55 local
TS Lines to restart newbuilding plan TS Lines, Taiwan's fourth-largest container carrier, stated on Monday that the company is reconsidering its plan to order four 1,800 teu new box ships. The company planned to order four 1,800teu and four 4,700teu box ships in 2011. However, the plan was suspended since the carrier believed
Jiangsu Rongsheng potential restructuring still in progress The negotiations on the potential restructuring of Jiangsu Rongsheng Heavy Industries, a key shipbuilding subsidiary of China Rongsheng Heavy Industries Group Holdings (RSHI), are still in progress with no specific terms being agreed. "No confirmed details on the potential restructuring are
HHI reaches wage agreement Hyundai Heavy Industries (HHI) said today that it has reached an agreement with its labour union on the issue of salaries. The agreement provides for a 2% increment in monthly wages, payment of an incentive equivalent to 150% of monthly wages, KRW10,000 (USD9) increment in work environment
General increases are 'game over' for P&I, says Skuld Clubs cannot make general increases stick in current climate, argues Jacobsohn
Demolition rates head south as bulker deals falter on delivery Volatile currency movements, political upheaval and cheap steel imports from China continue to dampen sentiment
No 'blood and guts' in P&I renewal rounds, Aon predicts However, two major fleets likely to change hands by the end of the week
Hamburg Süd aims to complete CCNI takeover next month Update: German line says merging the workforces will help to create an even stronger organisation
Harper Petersen branches into bulk business Box broker takes control of ER Schiffahrt's bulk fleet
Hyundai Heavy Industries finally concludes wage talks Union passes salary deal after South Korean shipbuilder agrees to narrow pay gap between managers and those below
NOL sells logistics arm in $1.2bn to cut debt Update: APL Logistics to become part of Japanese freight forwarder Kintetsu World Express
Yangzijiang moves into LNG carriers with deal from Evergas Two vessels for Evergas ordered at Singapore-listed yard are worth $135m
Newbuilding orders drop as dry bulk slump takes toll Decline in new bulk carrier deals could ease capacity - but it may take two years
GSI reports $24m profit, bolstered by asset sales Operating loss for the unit of CSSC stood at $120m
What is the White House's message to ILWU, PMA? U.S. Labor Secretary Thomas E. Perez's meetings with West Coast longshore union and employer negotiators have generated hope, skepticism - and questions. The biggest questions: What did the White House authorize Perez to tell the International Longshore and Warehouse Union and the Pacific Maritime Association? And how was his message received...
IANA offers bright forecast for 2015 intermodal growth Neither U.S. West Coast port congestion nor the East Coast winter weather could stop intermodal volume growth in 2014 and they won't be able to this year either, the Intermodal Association of North America says. Intermodal volume increased 4.8 percent in 2014 and will likely see similar-sized gains this year, thanks...
US regulators to study how truck driver pay affects safety The U.S. government's truck safety agency is pursuing plans to study whether the way truck drivers are paid leads to unsafe driving habits, rule-breaking and deadly crashes. The study could draw a line connecting truck driver pay methods in the U.S. and highway safety, opening a route for regulators to determine...
T.S. Lines reverses course, will build four ships With growing demand and difficulty in gaining shipbuilding capacity, Taiwan's fourth-largest container carrier announced plans Monday to order four 1,800-TEU vessels. T.S.Lines had suspended its 2001 plan to order the four vessels, along with four others, each with capacity 4,700 TEUs, because it believed construction prices would keep falling. But now...
Oakland blames 32 percent container traffic plunge on congestion Port of Oakland executives blame a dramatic container volume decline in January on congestion and the inability of the International Longshore and Warehouse Union and waterfront employers to agree upon a new coastwide contract. Oakland reported that containerized imports plunged 39 percent from January 2014, and exports declined 26 percent. Total...
Brazilian marine pilots say big ships can't be safely navigated The Brazilian port of Santos recently handled the largest container ship in its history, the 10,900-TEU CMA CGM Tigris. But if Brazilian pilots have their way, neither it nor other big ships will be allowed to berth in Santos or other Brazilian ports. Citing safety concerns, Conapra, the Brazilian national pilots...
New Orleans upgrading infrastructure to keep up with growth The Port of New Orleans expects its container volume to top a half-million 20-foot-equivalent units this year, and CEO Gary LaGrange sees bigger things ahead. LaGrange said new services from Chiquita and CMA CGM, prospects for additional services this year, and a strengthening U.S. economy make him confident the port will...
Port of Nagoya keeps spot as Japan's top export hub Driven by firm auto shipments, the Port of Nagoya easily retained its status as the biggest export hub among Japan's airports and seaports in 2014 in terms of value, according to figures from customs authorities. The seaport grabbed that status from Narita International Airport near Tokyo for the first time in...
Greece risks financial meltdown but tops world fleet rankings by value While Greece struggles to escape financial ruin and an exit from the eurozone, it has cemented its position as the world's leading shipping nation. Greek ship-owners control a fleet worth $105.6 billion, up 4.5 percent from a year ago, according to VesselsValue.com. Second ranked Japan increased the value of its fleet...
Logistics vs. procurement: Redrawing battle lines Logistics and procurement teams often end up in conflict about how ocean and air freight transport should be procured. Battle lines within major companies are being drawn between these internal groups as the contracting season gets into full swing shortly. But logistics and procurement teams should stop to consider what...
TNT Express sinks into the red on restructuring charges TNT Express slumped to a 137 million euro (US$156 million) net loss in the fourth quarter of 2014 from a 32 million euro profit in the same period in 2013, driven mainly by restructuring charges tied to an abortive takeover bid by its larger rival, UPS, two years ago. The Dutch...
Ferrulli named president-North America of Unicon Logistics Amir Maghami, CEO of Unicon Logistics, has announced the appointment of Gary Ferrulli as president of North America for the Los Angeles-based NVOCC and logistics services provider. "Naming Gary Ferrulli as president of North America gives us access to his vast experiences as a senior manager in the carrier world as...
ILWU, PMA talks resume with labor secretary U.S. Labor Secretary Thomas E. Perez is scheduled to meet Tuesday with West Coast longshore union and management negotiators in an effort to end a bargaining standoff that's causing increasing pain across supply chains. The White House said last week that President Obama was sending Perez to join the nine-month-old negotiations...
New $130 million Brussels center to triple DHL capacity at air hub DHL Express has unveiled a 114 million euros [US $130million] investment to build a new sorting center at Brussels airport hub, allowing it to more than triple its handling capacity. New technology will allow the hub to boost its hourly handling capacity from 12,000 shipments to 39,500,the company said. The original...
Panalpina shifts more to charter via new Atlas Air deal Panalpina has signed a new five-year agreement with Atlas Air under which it will switch one of the two 747-8 freighters wet leased - an arrangement where crew, maintenance and insurance are also provided - from the U.S. firm to scheduled charters. Starting March, the Swiss global freight forwarder expects to...
Uncertainty haunts Golar An equity analyst at Wells Fargo Securities is urging investors who intend to accumulate shares of Golar LNG (GLNG) to proceed with caution.
Cosco cans cape The sale-and-purchase market is rife with speculation that a Cosco subsidiary has retired an ageing capesize bulker.
A place for private equity Private equity has penetrated many segments of the shipping industry but some are starting to run for cover.
BW bags ECA financing BW LPG of Singapore has lined up financing for seven very large gas carriers (VLGCs) that are under construction in South Korea.
Aristeia ups SALT intake Aristeia Capital has raised its interest in New York-listed Scorpio Bulkers.
Fairfax in $1.9bn Brit buy Canadian insurance group makes a takeover swoop for Brit Plc, one of the top underwriters in the Lloyd's of London market.
Cosig raising $9.5m Hong Kong-listed China Ocean Shipbuilding Industry Group (Cosig) is selling convertible bonds to boost its financing business.
Ro-pax hits dock A Spanish ro-pax has hit a dock in Malaga, but no injuries were reported.
Rimau's storage debut Singapore's Rimau Shipping has fixed out a former OSG VLCC to Glencore for storage.
CDB linked to $1.5bn IPO State-owned lender China Development Bank (CDB) is reportedly plotting a Hong Kong IPO for its leasing business.
POSH makes less in 2014 Pacc Offshore Services Holdings (POSH) has logged a loss for the fourth quarter.
Winland Ocean files in US Winland Ocean Shipping Corp of China has filed for Chapter 11 bankruptcy protection in the US after two of its vessels were arrested.
Gorilla out of the mist Expectations Euronav will end a four-year losing streak and reintroduce a dividend in the second half of 2015 have seen Evercore ISI begin coverage of the company with a buy rating.
Bulker master fined The captain of a Chinese capesize has been fined AUD 8,000 ($6,250) for entering a restricted section of Australia's Great Barrier Reef without a pilot.
NOL in $1.2bn sale Neptune Orient Lines (NOL) has sold its logistics business to Tokyo-based Kintetsu World Express (KWE) for $1.2bn.
Two more barred The Paris MoU port state control organisation has banned two more general cargoships from its ports.
HHI strikes pay pact Hyundai Heavy Industries has ended an eight-month wage dispute with yard workers.
Lines join forces Finland's Containerships and Belgium's European Containers (ECS) have announced a cooperation beginning this month.
Reach eyes cost cuts Reach Subsea is mulling the option of lowering charter rates and is plotting expansion outside the North Sea as it seeks to counter the impact of a depressed oil price.
Twelve hurt in smash Twelve people have been injured after a Fullers Group ferry hit the side at Devonport in New Zealand.
Wightlink sold The UK's Wightlink Ferries has been sold by its private equity owner.
NITC slams EU sanctions A decision from the European Union (EU) to re-impose sanctions on National Iranian Tanker Company (NITC) has been slammed by the Iranian firm.
GulfMark held back US owner GulfMark Offshore has revealed a big drop in fourth quarter profit as it seeks to delay newbuilding deliveries.
Eitzen Chemical logs loss Writedowns pulled Eitzen Chemical deep into the red in the final quarter of 2014.
Dof cuts five free Dof's Brazilian subsidiary Norskan Offshore has sold five ships to private equity funds as the company focuses on more advanced vessels.
DESSC ties up PSVs Deep Sea Supply has secured charterers for two of its modern PSVs, the company confirmed Tuesday.
Lapin bomb a fake An alleged bomb planted aboard a tanker while it was hijacked off Malaysia has turned out to be just a dummy.
Dae Sun wins boxship order Greece's Cosmoship Management has returned to Dae Sun Shipbuilding to order up to six 1,800-teu containerships.
Wan Hai upgraded Taiwan's Wan Hai Lines has seen its credit rating upgraded by ratings agency Moody's to to Ba2 from Ba3.
Vietnam eyes private investments to fund new ports Plan is part of an initiative to privatise roughly 432 state-owned enterprises.
BIMCO to offer free security workshops in Southeast Asia Will be held in Singapore, Hong Kong and Shanghai.
Short-lived CP Rail strike impacts Vancouver bunker supply But no impact felt so far from US West Coast port strike, says supplier.
Bunker firm acquires storage terminal in Nordenham, Germany The 21-unit tank farm currently being used for the transhipment of bitumen, HFO and gas oil.
New South Wales outlines strategy to curb marine emissions Says 'urgent action' is required.
Bureau Veritas to class Canadian dual-fuelled newbuilds Contracts with two operators to harness BV's 'extensive experience in handling LNG'.
Dry bulk recovery is in sight, says consultant Fuel efficient tonnage can charge higher rates.
NOL to sell APL Logisitics for $1.2 billion 'This is a strategic move that will allow us to focus on improving our liner shipping business.'
Bunker hedging curbs 2015 outlook 'Full benefit of current fuel pricing' won't be realised until 2016.
Swedish port 'bunkering like never before' 'Low oil prices, an advantageous geographical location, high oil quality and a focus on safety are attracting vessels.'
Wartsila to supply 'closed-loop' scrubbers to Stena Says it is 'first ever order for an in-line closed loop scrubber system'.
US firm completes aquisition of Oiltanking Partners Merged with subsidiary of midstream energy services firm.
Insurer advises on non-availability of ECA compliant fuel Shipowners might be able to use provisions of Regulation 18.
Creditors confirm Dynamic Oil Trading liquidator KPMG confirmed for role as liquidator, says DOT.
TNCCI: Speed up India's east-west link canal project New ship canal anticipated to bring bunker savings with shorter route.
China fuel oil imports increase 90,000 mt of fuel oil cargo heads to bonded bunker market at east China.
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