Italdraghe launches multifunctional Octopus dredger The Italian dredger builder has scored an immediate success with the highly versatile amphibious Octopus, having already sold the launch dredger and won orders for two more. "At the present time, the first vessel has been disassembled into its various sections and is undergoing painting,"
Hansson sees $60 to $80 oil price need to renew activity The price of Brent crude oil should return to the range of USD60 to USD80 per barrel for activity in the offshore services industry to pick up, says Herbjorn Hansson, executive chairman of Nordic American Offshore. "The low oil price continues to put pressure on our industry. The fundamentals in
Hudong-Zhonghua secures Coscol options Hudong-Zhonghua Shipbuilding has secured an order for two multipurpose heavy lift vessel options from compatriot shipowner COSCO Shipping Co Ltd (Coscol). The two 28,000 dwt newbuildings will have an overall length of 179.5 m, beam of 28 m and depth of 14.8 m with delivery scheduled for April and
ClassNK still biggest classification society Japanese classification society ClassNK has held onto its crown as the world's largest classification society by registered tonnage. ClassNK said its registered tonnage now exceeds 366 million deadweight tonnes, accounting for 21% of the world's classed fleet. IHS Maritime's Sea-web.com data shows
RSHI to sell shipbuilding business China Rongsheng Heavy Industries (RSHI) has entered into a memorandum of understanding (MOU) with an unidentified buyer for the sale of its shipbuilding and offshore engineering business. Both parties will further negotiate details of the deal, including the scope and list of related assets and
Oil price fall triggers VLCC storage use speculation Recent sharp fall in the price of crude oil has triggered speculation that the economics could soon be right to employ tankers as floating storage, shipping analysts said. Oil prices fell sharply over the past week. Brent crude fell by around 10% to USD53 per barrel since Thursday last week. "The
Better supply demand balance in sight in container shipping A better balance between the supply of container ships and the demand for capacity is emerging as ordering of newbuildings has slowed down, a senior shipping analyst noted. "The supply side is doing whatever it can to improve the fundamental balance of the container shipping market. During the past
Boskalis wins €55 million Panama artificial island contract Dutch dredging major Royal Boskalis Westminster has won a contract from Compañía Insular Americana to construct a second artificial island near Panama City's densely populated Punta Pacifica residential area. Worth more than EUR55 million (USD58 million), the project follows successful completion
South Korea to get foreign workers for shipbuilding South Korea's Ministry of Trade, Industry and Energy has announced it will bring in 174 foreign workers to ease the manpower shortage in the country's shipbuilders. In a statement written in Korean, the ministry cited the need to relieve the vessel delays and other difficulties the country's
Tanker rescues crew from blazing vessel off Australia A Greek chemical tanker rescued the crew of a Japanese fishing vessel that was on fire 670 km northwest of Dampier off the Australian coast on 14 March. The 24 Indonesia and Japanese crew stayed overnight at Port Hedland's Seafarer's Centre and were repatriated home on 16 March. "The launch went
Japanese yard orders down 70% in February Japanese shipyards' orders plunged almost 70% year on year in February, continuing its descent as investment appetite for newbuildings has been affected by the sluggish dry bulk market. Figures from the Japan Ship Exporters' Association (JSEA) showed its member yards clinched 14 export orders
Japan escorts 3,522 ships through Gulf of Aden pirate waters The Japan Self-Defense Forces (JSDF) vessels escorted a total of 3,522 commercial ships in the waters of the Gulf of Aden between 28 July 2009 and 28 February 2015 to protect them against pirate attacks, the Japanese transport ministry said on 13 March. Of the 3,522 commercial ships escorted by the
Daebo seeks US court protection Insolvent Korean dry bulk company Daebo International has filed for US Chapter 15 bankruptcy protection in New York. As previously reported by IHS Maritime, Daebo filed for court receivership in South Korea during February. America's Chapter 15 regime is designed as an ancillary shield that
Dalian port to build iron ore logistics centre Dalian port announced on 17 March it will build a Northeast Asian iron ore logistics centre, including logistics, production, and trade sectors. The centre will enhance the influence of Dalian Commodity Exchange, a source from Dalian port told IHS Maritime, and it will also lead the iron ore trade
Sinotrans Shipping back to black Hong Kong-listed Sinotrans Shipping returned to black in 2014 with profits of USD1.9 million. In 2013, the company's losses totalled USD638,000, a stock filing of Sinotrans Shipping stated today. Its revenues declined 8% year on year to USD1.2 billion due to weak bulk and container shipping
Gulf of Guinea gears up for the future Container terminal development projects are taking place in West Africa in light of larger vessels and rapid volume growth
SSY closes Athens office Broker expected to continue Greek clients mainly from London
Sinotrans Shipping returns to the black Operating losses widens due to persistent vessel oversupply and slower economic growth in China
Nordic American Offshore puts on brave face in choppy waters for offshore vessels Will the company continue to be as optimistic as 2015 progresses?
Fall in rates fails to cut short a string of demolition sales Much recent activity focused in the dry sector, with several bulk carriers reported sold for scrap
DHT to pocket $20m from four tanker time charters Expansion-minded crude tanker owner decides now is a good time to opt for time charters
The flow may be steady but don't discount surprise outcomes Opec may have opted to keep oil output stable but developments in individual countries could still alter tanker chartering patterns
View from the Bridge: Jeremy Matthew Seaco chief executive tells of plans for enlarged company following the Cronos acquisition, and where to find growth in a business so closely linked to shipping lines' fortunes
Aker Philadelphia Shipyard finalises $60m loan towards its four new product tankers Loan made through Welcome Fund, designed to assist large-scale projects, and comes on top of other funding secured for the newbuildings
Scrubbers under scrutiny as popularity with shipowners increases New study casts doubt on scrubbers' economic and environmental viability despite increased sales by manufacturers
Houston, we don't have a problem Houston Ship Channel reopens and is revealed to have had a muted affect on aframax rates
Charleston sees another month of double-digit growth US east coast port records an 18% year-on-year increase in container volumes in February
OW Bunker collapse highlights trade credit insurance concerns Any company can surprise, warns Equinox Global chief executive
Gothenburg says congestion is easing APM Terminals says that utilisation levels and productivity are returning to normal after bad weather caused a backlog of cargo
Newbuilding versus secondhand tanker debate rages on Risks and opportunities crop up on both sides, as tanker players contribute to debate with passionate views
OSG reports $27.5m profits for fourth quarter First-quarter post-restructuring in solidly in the black
Minerals trigger bounce in supramax and handy rates Market for smaller vessels has picked up, but it is well short of a recovery
US ports pressure Congress to keep funding promise after falling short WASHINGTON -- The trek toward full funding of for U.S. ports can look a lot like one step forward and two steps back. Since the White House and Congress passed the landmark Water Resources Reform Development Act last year, the president and lawmakers have already failed to meet the funding targets...
CN plans intermodal logistics hub for greater Toronto region Canadian National Railway on Tuesday announced plans to build a $196 million intermodal and logistics hub outside of Toronto as its existing terminal serving Canada's largest urban center nears capacity and regional freight demand builds. Canada's largest railroad said the C$250 million hub in Milton, Ontario, which is roughly 30 miles...
IPO would propel Coyote Logistics' growth into even faster lane Coyote Logistics, a third-party freight broker and logistics operator that has grown to be a $2 billion company in less than 10 years, is poised to expand at an even faster clip by tapping Wall Street investors for cash. The Chicago-based company is preparing an initial public offering for later this...
Teamster lawsuit little threat to US-Mexico truck trade even if successful WASHINGTON - Even if the Teamsters fail to overturn a recent federal decision to allow Mexican motor carriers to haul loads past the border region, the impact of the new program may be negligible anyway. The majority of U.S.-Mexico cross-border trade is shuttled over the border region, and interest from Mexican...
Container supply-demand gap may be narrowing, BIMCO analyst says An improved balance between the supply of container ships and demand for capacity is emerging as ordering of new ships has slowed down, a shipping analyst said. But at the same time, others are predicting that overcapacity will be a reality of the industry for possibly years to come. "The supply side...
Human rights, environmental advocates criticize Nicaragua Canal plan WASHINGTON - When it comes to the planned Nicaragua Canal, container shipping carriers and customers tend to focus on two questions: Can it be built, and, if so, what impact will it have on trade? But that's only part of the debate regarding the canal, with an estimated $70 billion price...
US East Coast gets three new all-water services from Asia Three carrier alliances are launching Asia-U.S. East Coast services that will increase capacity on the route by 6 percent, according to industry analyst Alphaliner. The new Panama Canal services follow recent West Coast port congestion that has led shippers to seek alternatives, even on higher-priced all-water services to East Coast ports...
Oakland port congestion receding after 37 percent volume decline Container volume at the Port of Oakland plunged 36.7 percent in February due to terminal congestion, labor issues and cargo diversion, but the problems that caused the loss of cargo are slowly receding. Oakland reported that containerized imports in February were down 39 percent from February 2014 and exports declined 34...
Idle container ship fleet edges higher Idle container ship capacity edged up to 242,000 TEUs on March 9 from 206,000 TEUs two weeks earlier, representing 1.3 percent of the world fleet, according to Alphaliner. The number of jobless ships above 3,000 TEUs rose to 26 from 15, due mainly to cancelled sailings on the routes to the...
African truckers employed by Agility protest long driving hours Truck drivers employed by Agility Logistics in Kenya are protesting long working hours and lack of union representation, allegedly disrupting traffic on a key trade corridor that connects the Port of Mombasa to inland markets in Uganda and other nations. The protests, following a truck driver strike in Brazil, further illustrate...
A trucker's call for change at ports Truckers, it's time to link up the entire East Coast. This port transportation business has gotten completely out of hand. The actions of today's intermodal management are much more vicious than organized crime. Forcing truckers to play by impossible rules while working for the lowest of rates anywhere within the...
India to fund coastal shipping infrastructure to reduce bottlenecks In an attempt to reduce port bottlenecks, the Narendra Modi-led Indian government has approved a special state-aid scheme for the construction of new infrastructure suitable for handling coastal vessels at publicly owned major ports. The heightened emphasis on coastal shipping is part of the new federal government's much-publicized "sagar-mala" project aimed...
Global Maritime Forecast Uncertainty is the new normal in the global shipping market. After storming back from the 2008-09 recession in 2010, ocean carriers have spent much of the past three years fending off the dreaded "o" word - overcapacity - as shipyards delivered a slew of giant new ships. Although the growth...
Global Logistics Global supply chain interests have endured monumental change over the past several years. Economic turmoil in the U.S., Europe and Asia required third-party logistics providers and other supply chain interests to dramatically change their business models as retailers slashed inventories, adopted revolutionary environmental initiatives and cut costs. The environmental pressure...
Trucking Midyear Review Optimism among trucking executives is on an extended run. Supply and demand are largely in balance, giving carriers the sort of pricing power they lacked during the lackluster years leading up to 2012. In general, trucking is outperforming the general U.S. economy and the international trade market, and profits are...
Peak Season Shipping Forecast Shippers and carriers across all modes are in the midst of what they hope will be a strong peak-shipping season. The North American economy is humming along at its best clip since well before the 2008-09 recession. Consumer sentiment, which has lagged overall economic growth, appears to be improving, and...
Asia Trade: Midyear Review and Outlook As the driver of global trade, the Asia-Pacific region has some of the largest container ports in the world, including the world's three largest, Shanghai, Singapore and Hong Kong. It also has some of the strongest and most rapidly emerging economies, from the world's manufacturing and export giant China to...
Another one bites the dust Another ailing bulker operator has filed for bankruptcy in the US under a broader bid to keep creditors at bay while attempting to shore up its balance sheet.
Dia Yuan cans handy It appears that Dia Yuan International Shipping of China has parted ways with its eldest handymax bulker in a deal worth nearly $3.2m.
Silver lining The liquidation of STX Dalian Shipbuilding is being touted as a positive development for many segments of the shipping industry.
Norwegian mulls China entry Norwegian Cruise Line is mulling whether to deploy a newbuilding to China, chief executive Frank Del Rio said today.
Court win for Fugro Fugro has beaten off attempts by Royal Boskalis Westminster to force a change in the company's laws.
Profit all round at Hafnia Mikael Skov's Hafnia Tankers and its pools operation fronted by Anders Engholm have recorded profitable full year performances.
Pacifica adds feeder New Zealand's Pacifica Shipping is adding a new feeder vessel to its coastal service next week.
Puerto Rico hurts Horizon Decision to exit the Central American market translates into deeper red for Jones Act player.
Namura wants extra Japan's Namura Shipbuilding plans to build 10% more ships in its next financial year.
DHT locks in $20m profit DHT Holdings has found fresh period work for one of its VLCCs and confirmed time charters for a number of other vessels.
K Line to cut emissions K Line has already taken some steps towards accomplishing its 2050 environmental targets, which include a significant cut in CO2 emissions.
Erria ups earnings Danish ship manager Erria has posted bigger profit for 2014, but is facing a more challenging 2015.
Ultrabulk in the black Ultrabulk Shipping has overcome a terrible bulker market to finish 2014 in the black.
Farstad sheds AHTS Farstad Shipping has shed one of its older anchor handlers in a weak market.
PSV hits platform Oil workers have been taken off a North Sea platform after a Deep Sea Supply vessel collided with the structure.
Lindblad ordering two Niche operator Lindblad Expeditions is lining up two new cruiseship orders as it plots a merger with an investment fund.
Classic gets cheap cape George Economou's Classic Maritime has grabbed a capesize bulker on a short period deal with the capesize market closing in on an all-time low.
Greek tanker refloated A Greek-flagged tanker has been safely refloated after grounding in sandy shallow waters off Rhodes.
Gail too "stringent" Indian importer Gail's tender to charter not buy new LNG carriers is proving a problem, according to ABG Shipyard.
Panamax scrapped SNP Shipping of India is reported to have scrapped one of its oldest bulkers.
Vitol in LR3 first Trading giant Vitol has lined up the first-ever naphtha voyage from the Persian Gulf to Asia on a large-range 3 (LR3) products tanker.
Pacific Basin pays less Smaller bonuses in a battered market pulled down the pay packets of executives at Pacific Basin Shipping in 2014.
Rongsheng stock jumps China Rongsheng Heavy Industries has seen its shares rise as much as 12% after it said it would sell its shipyard assets.
Ferry toll rises The death toll from Myanmar's ferry capsizing has reached 59, local authorities have said.
AKPS adds another $60m Aker Philadelphia Shipyard (AKPS) has won another $60m of financing for four products tankers it is building for its joint venture with US owner Crowley.
CSSC pushes up profit State shipbuilding group China CSSC Holding has posted an 11.77% increase in net profit for 2014.
Coscol exercises options Cosco Shipping Co (Coscol) has confirmed that it has exercised options for two more multi-purpose heavy lift ships in China.
Olwyn blasts Atwood rig Atwood Oceanics has confirmed that one of its semi-submersible drilling rigs has been damaged by a cyclone off Australia.
Strike hits Tacoma volumes Container volumes through the ports of Seattle and Tacoma continued to struggle last month, dipping 9% year to date.
STX Dalian faces liquidation Six companies that fall under the STX Dalian Group, including STX Dalian Shipbuilding, are to be liquidated.
Aegean books higher profit Aegean Marine has ended the year on a high after reporting a near 7% year-on-year increase in net profit.
Dan-Bunkering hires fuel trader Emelia Yusope is based in Singapore.
Dense fog shuts down US Gulf ports Houston, Galveston, Freeport and Corpus Christi affected.
Monitoring system offers ship operators assurance Siemens says its multi-gas analyser system can help operators comply with sulpur regulations.
Slow steaming has left 'a huge gap' in the market Ocean transport between China and Europe faces growing competition from railways.
Strong refining margins boost fuel oil output Refineries seek to speed up their processing rates.
Alternative fuels part of Norway's response to climate change In white paper just published.
Norway calls for more dialogue with industry 'We cannot afford to do nothing'.
US Coast Guard welcomes classification society's LNG advice 'DNV GL is already doing everything the USCG could hope for and more,' says Coast Guard official.
China fuel oil imports set to increase in March Bunker suppliers are replenishing stocks following the Chinese new year holiday.
Caribbean bunker player wins supply deal Contract involves supply of over 4,000 mt of marine diesel.
Aegean: Bottom line hit by OW's fall Annual profit down by 35%.
NewOcean Energy gaining market share in Hong Kong Group records net profit of $115.9 million in 2014.
Clipper oil expands Singapore operations Hires a new bunker and lubricant trader for the office.
Crew clears 'small' oil spill on Mississippi River Roughly 50 gallons of an oil and water mixture were accidentally leaked.
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