EPA unveils new penalty scheme The US Environmental Protection Agency (EPA) has released penalty guidelines for ship operators who violate Emission Control Area (ECA) rules. Starting 1 January 2015, operators have been required to use 0.1% sulphur fuel within 370km of US shores. The new penalty policy "is intended to deter
Companies switch en masse to low-sulphur fuel The European Community Shipowners' Associations (ECSA) have released the results of a late 2014 survey to assess how shipping companies were planning to address the new sulphur emissions regime that began on 1 January. Of 39 shipping companies that responded to the first survey, which was concluded
Sustainable tanker rally predicted Evercore ISI analyst Jon Chappell has issued a bullish call on tanker stocks and dramatically increased his spot rate forecasts. "It seems like it has been an eternity, but the tanker markets are finally on solid footing again," Chappell maintained in a 15 January research note. "With minimal
Maritime law no clearer as Lexie trial further delayed Resolution of a long-running murder case in India against two members of an Italian ship protection team has been further delayed after one of the accused was allowed more time to recover from heart surgery. And although the case has been marked by confusion and competition between multiple
Missions wait to meet Cemfjord bereaved families Two seafarer charities are still waiting to offer assistance to the bereaved families of the eight seafarers lost in the Cemfjord disaster on 7 January. The Mission to Seafarers and The Apostleship of the Sea (AoS) issued a press release on 13 January with an offer to the ship's owners, Brise
Singapore's Jurong Port to install solar panels on warehouse Singapore's Jurong Port said today it will install solar panels on more than 95,000m² of warehouse roof space. It claims the installation would make it the largest port-based solar panel facility in the world and in a press release said the system is expected to generate 10MW of electricity at its
Helsinki sets 2014 passenger record Passenger numbers through Port of Helsinki's three harbours were up by 2% last year to a record total of 10.9M. The overwhelming majority, 75%, travelled on the Helsinki-Tallinn route, which is the world's second most popular ferry route. This route is served year-round by Estonia's Tallink in
Sri Lanka raises security concerns over Chinese project Sri Lanka's new government has voiced security and sovereignty concerns over a Chinese-funded $1.3Bn 'port city' reclamation project next to Colombo port. Investment promotion minister Kabir Hashim said they were concerned about the lack of transparency in the project and plans by
UN official: Asia needs infrastructure boost Asia Pacific needs to tackle its infrastructure deficit in order to reach its full economic potential, a senior UN official said at a press conference in Bangkok. "Despite improved prospects, many developing countries in the region face structural constraints which have kept them from realising
China's copper imports hit new high China's imports of unwrought copper and products reached a new high of 4.83M tonnes for the whole year of 2014, up 7.4% year on year, according to data released by the General Administration of Customs on Wednesday. Chinese importers have booked a large number of long-term contracts of refined
More than 20 missing after tug capsizes A total of 22 people remain missing after a newly built tug capsized yesterday in the Yangtze River near Taizhou, in China's Jiangsu Province. Three others on board the vessel, JMS Delta, built by Anhui-based Bengbu Shenzhen Machinery were rescued, the Jiangsu Maritime Safety Administration said today.
Third Fugro vessel joins MH370 search A third Fugro vessel, Fugro Supporter, has joined the search for missing Malaysian airlines passenger aircraft MH370, bringing the search fleet to four. A spokesperson for the Australian Transport Safety Bureau (ATSB) told IHS Maritime the vessel was brought in to cover the more mountainous areas
Analyst: Hyundai HI to see loss in 2015 South Korea's Hyundai HI (HHI) is not expected to return to profitability this year, despite efforts to cut costs and streamline its businesses, said an analyst. In a research note issued today, Daishin Securities analyst Feynman Jeon predicts a KRW95Bn ($88M) loss for 4Q14, a full-year loss
Helsinki sets 2014 passenger record Passenger numbers through Port of Helsinki's three harbours were up by 2% last year to a record total of 10.9M. The overwhelming majority, 75%, travelled on the Helsinki-Tallinn route, which is the world's second most popular ferry route. This route is served year-round by
Seanergy scales back on rebirth NASDAQ-listed Seanergy Maritime Holdings, controlled by Greece's Restis family, has delayed and downsized plans to repopulate its fleet. Following its March 2014 restructuring, Seanergy had no remaining vessels in operation. The company agreed in April to purchase four Capesizes from the
China's copper imports hit new high China's imports of unwrought copper and products reached a new high of 4.83M tonnes for the whole year of 2014, up 7.4% year on year, according to data released by the General Administration of Customs on Wednesday. Chinese importers have booked a large number of long-term contracts of
UN official: Asia needs infrastructure boost Asia Pacific needs to tackle its infrastructure deficit in order to reach its full economic potential, a senior UN official said at a press conference in Bangkok. "Despite improved prospects, many developing countries in the region face structural constraints which have kept them from realising
Survey of sunken cement carrier Cemfjord to be carried out this weekend Underwater vehicle will aim to find out what went wrong on tragic wreck that cost the lives of all eight crew
Grimaldi sets up Italy-North America service The ro-ro operator is launching a direct service from Civitavecchia to Baltimore and Halifax
Diana eyes another two years of pain - and expansion Famously bearish owner set to continue counter-cyclical investment strategy that has doubled its fleet
Seanergy agrees $17.3m purchase of first vessel in new fleet But falling asset prices delay deal to buy four capesizes from controlling Restis family
Carriers suspend mid-January price push in bid to fill slots Despite slight rise, Asia-north Europe freight rates still down 39% on-year
Cosco lands $1.75bn loan from Cexim to finance 53 newbuilds Vessels include six 300,000 dwt very large crude carriers, five 9,400 teu boxships and dozens of eco-design bulkers
Europe to North America volumes surge However, volumes in the opposite direction continue to lag behind the 2013 level
China Shipping Development scraps 10 old bulkers The ships are at an average age of 20.6 years and weigh 387,000 dwt in total
CSAV raises 89% of target in pre-emptive offer Hapag-Lloyd chief executive says IPO not likely before November
Newly-reported West Africa-Europe suezmax spot trade performing well for owners Daily earnings at $54,000 on West Africa-Europe suezmax trade
Week on Wall Street | January 16 Taking stock of the fallout from Star Bulk's secondary offering
Avance Gas extends share buy-back programme Gas carrier owner invests in itself as spot market picks back up
Trans-Pacific carriers to attempt new GRI in early February Carriers in the eastbound trans-Pacific are leveraging what they think will be strong pre-Chinese New Year volumes to implement a $600-per 40 foot container rate increase set to take effect on Feb. 9. The increase will apply to all origins and destinations, the Transpacific Stabilization Agreement, a carrier group, said...
Big increase in number of trade groups urging ILWU-PMA resolution A growing number of trade associations that have signed their names to a series of letters calling for a resolution to West Coast longshore talks points to the widening economic impact of port delays that have now lasted for months. The latest letter to the head of the Pacific Maritime Association...
US truckborne trade with Canada increases, spot market surges Economic recovery in the U.S. is generating manufacturing and freight demand in Canada, pushing up spot market truck volumes and freight traffic crossing the U.S. border. Truckload volume on the Canadian spot market increased 11 percent from November to December, the biggest month-to-month change since March and third highest last year....
India's trade deficit narrows to 10-month low India's trade deficit with the rest of the world narrowed to a 10-month low in December, as imports declined more than exports, according to the latest trade data released by the Ministry of Commerce and Industry. Exports in December slipped nearly 3.8 percent year-over-year to $25.4 billion, partly because of a...
Port Metro Vancouver drayage drivers to decide in two weeks whether to strike Union and non-union drayage drivers serving Port Metro Vancouver will likely strike at Canada's largest container port as soon as Feb. 1 if the provincial government doesn't meet their demands. There was no resolution to drayage drivers' complaints that an agreed upon 14-point deal, which ended a strike last March, had...
Fuel savings not enough to lure intermodal shippers back to trucking Lower truck fuel surcharges, the result of the dramatic fall in oil prices over the past three months, on their own won't prompt many shippers to shift cargo from intermodal trains back to the highway, because the savings aren't that great and trucking capacity is tight in most markets. That could...
Hapag-Lloyd targets CSAV integration, profit before IPO Hapag-Lloyd will concentrate on integrating CSAV, the Chilean carrier it merged with in December, and returning to profitability, before proceeding with an initial public offering, the chief executive of Germany's biggest container shipping line said. "We believe in our plan, that is why we are not in a rush," Rolf Habben...
Ex-ILA official Cernadas avoids prison for extortion Albert Cernadas Sr., a former high-ranking officer in the International Longshoremen's Association, was sentenced Friday to three years' probation and fined $50,000 for his role in a decades-long mob extortion racket on the New Jersey waterfront. Cernadas pleaded guilty Dec. 19 to extortion conspiracy and admitted collecting annual "Christmas tribute" payments...
NJ court ruling could affect trucker unionization Efforts to unionize owner-operator drivers in New Jersey could get a boost from a state Supreme Court ruling that limits companies' ability to classify workers as independent contractors instead of employees. In a unanimous decision this week, the court ruled that a mattress retailer's delivery drivers are presumed to be employees...
Want to lift your bottom line? Act like a lead logistics provider Distribution companies are having a difficult time adjusting their operating model to support the emergence of the omnichannel and some are turning to lead logistics providers to overcome these challenges. But how can companies that prefer to keep their operations in-house leverage some of the best practices used by lead...
Feds take closer look at Horizon-Pasha deal in Hawaii The Justice Department's antitrust division has requested additional information on Horizon Lines' plan to sell its Hawaii business to competitor Pasha Group as part of a broad shakeup of the U.S. domestic Jones Act trade. The request, which is not unusual, indicates antitrust regulators are taking a closer look at how...
US maritime regulator chief: Addressing port congestion is top 2015 priority Addressing U.S. port congestion will be the Federal Maritime Commission's top priority in 2015, FMC Chairman Mario Cordero has told commission staff. "Among the commission's statutory goals is the assurance of an efficient ocean transportation system," Cordero said in a statement. "The efficient operation of the nation's ports is squarely within...
Kerry Logistics forms joint venture to grow Indonesia network HONG KONG - Kerry Logistics has formed a joint venture with Indonesia's PT Puninar Saranaraya (Puninar Logistics) as it expands its business in Southeast Asia's largest economy. The joint venture aims to combine Kerry Logistics' global expertise and international freight forwarding network with Puninar Logistics' local capabilities and connections. Customers in...
SCFI: US East Coast rates rise as West Coast congestion escalates HONG KONG - Spot rates on the Asia-U.S. East Coast rose to their highest level in more than a year, evidence that the rapidly deteriorating labor talks on the West Coast is driving cargo owners in search of alternative gateways. The all-water spot rate from Asia to the East Coast rose...
Vietnam factories capture greater share of China's footwear market HONG KONG - U.S. footwear import data have revealed the extent of the shift in sourcing that last year saw manufacturers steadily expanding production in Vietnam at the direct expense of China's market share. According to the U.S. Department of Commerce, Office of Textiles and Apparel, 1.767 billion pairs were imported...
Good year for Cosco Pacific as throughput grows 10 percent HONG KONG - Last year was good to Cosco Pacific as the port operating arm of China's largest shipping company saw its container throughput rising 10.6 percent in 2014 with 67.3 million TEUs crossing its busy wharves. All port segments reported growth in 2014 and while the lowest year-over-year increase was...
Ships back up at US West Coast ports after night vessel work ends Ships are backing up rapidly at the major West Coast gateways following a decision by employers to stop working vessels at night in order to concentrate on clearing out congested marine terminal yards. The Marine Exchange of Southern California reported today that 13 container ships were at anchor and awaiting berthing...
GLNG seals fixtures Golar LNG has secured employment for two of the newest additions to its fleet of LNG carriers.
Bulker prices plunge The price tag tied to a handysize bulker that recently changed hands is being touted as a testament to how far asset values have fallen.
Owners plot conversions The industry is rife with rumours that a growing number of owners building bulkers in Asia are planning to replace these orders with contracts to construct tankers.
EPA unveils ECA penalties The US Environmental Protection Agency (EPA) has unveiled a much-anticipated penalties policy for the North American and US Caribbean emissions control areas (ECAs).
Quintana newbuild fixed Quintana Shipping has secured period employment for its sole capesize newbuilding, brokers say.
Mjolner CEO steps down Kevin Wise has emerged as the new president and chief executive of Mjolner Shipping, a tanker operator based in the US.
Vinalines cuts loss Vietnamese state shipowner Vinalines has slashed its annual loss despite a fall in revenue.
"It's finally happened" A sustainable tanker market recovery has finally arrived, one of Wall Street's most respected analysts has said.
25 missing in sinking Rescuers in China are searching for 25 crew missing after a tug capsized in the Yangtze River.
Cosco fixes huge loan Chinese state owner Cosco has secured a $1.75bn loan from Export-Import Bank of China to finance its newbuilding spree.
SNP wants ferry link The Scottish government has been urged to encourage the reintroduction of a ferry route to Norway.
DSME sheds albatross Korean shipbuilder DSME has taken a swing at its non-core operations by offloading a golf course operator subsidiary.
Union warns on training Crew union Nautilus International has warned the UK faces a skills shortage within a decade unless more state cash is spent on training seafarers.
DNB downs tanker quartet DNB Markets has downgraded four public tanker owners despite the first quarter euphoria in the market.
Double joy for Olympic Olympic Shipping of Norway has picked up contracts for a pair of subsea support vessels.
Coscol profit surges Chinese heavy-lift specialist Cosco Shipping (Coscol) has posted a 491% jump in earnings for 2014.
Strike two for Frontline John Fredriksen's Frontline is believed to have secured its second VLCC storage contract in a week.
No IPO rush Hapag-Lloyd is to focus on the integration of Chilean partner CSAV before moving ahead with an IPO.
Baltic eyes cape exit Peter Georgiopolos-led Baltic Trading appears to be seeking an exit from the capesize market.
CSAV in $350m boost Compania Sud Americana de Vapores (CSAV) has raised $357m during a capital increase which follows its merger with Germany's Hapag-Lloyd.
Taking back-up We take a look at what was said in the market over the past week.
Navig8 adds six more Navig8 has revealed it has secured six more tankers and bulkers for its pools in January.
CMES adds another China Merchants Energy Shipping (CMES) has brought its VLCC orderbook to 15 ships with a new deal at Dalian Shipbuilding.
Finnlines buys again Finland's Finnlines has snapped up its third ro-ro in a week as it announced the purchase of a former UK ministry of defence stand-by ship.
Maltby to take Epic reins Epic Gas has a new chief executive after incumbent Lars Vang Christensen handed in his notice.
Saudis buy HMD stake Saudi Arabia has emerged as a significant shareholder in struggling South Korean shipbuilder Hyundai Mipo Dockyard Co (HMD).
Seanergy buys cape Seanergy Maritime Holdings has snapped up an unnamed capesize bulker for $17.3m as it looks to rebuild its fleet post its financial restructuring.
GLMTF bashes McCain bill A grouping of US shipyard, shipowner and other maritime interests on the Great Lakes has spoken out against Senator John McCain's proposed repeal of the US Jones Act cabotage law.
Frontline's floating score John Fredriksen's Frontline has tapped into the red-hot VLCC floating storage trend and has eyes on further deals, a leading executive confirms.
Avance extends buy-back John Fredriksen-backed Avance Gas has extended the duration of a buy-back programme under a broader bid to boost its share price.
David versus Goliath MT Maritime Management (MTMM) has emerged as the winner of a costly feud with Louis Dreyfus Commodities (LDC).
Iranian crude being 'transferred ship to ship' at Khor Fakkan Insurer warns of smugglers conducting 'illegal activity'.
EPA: Stiff fines await violators of new ECA rules Penalty to remove the economic benefit of non-compliance and reflect violation's gravity.
Canadian ferry firm lowers fuel surcharge Move to become effectively immediately.
Wiljo seeks to exit bunker market Belgian bunker company to sell off bunkering business.
Sulphur cap good news for radical ship design 'Vindskip' could be ready to launch in four years.
'Some carriers' still voluntarily switching fuel in Hong Kong Incentive scheme still in place but covers only part of extra fuel cost, with many waiting for legislation to take effect.
Singapore's bunker volumes slide for third year running Sales fall, but by less than 1%.
Asian fuel oil imports to remain high Import volumes of more than 4 million mt for second month running could put more downward pressure on the market.
Global Risk: New office, new hires Move a response to rising demand for services.
OW: Counter moves in US courts continue In aftermath of OW Bunker bankruptcy.
UK port enjoying 'mini bunkering boom' Falmouth, in the southwest of the United Kingdom, lies on the western boundary of the European ECA.
Russian bunker player buys tanker Tanker acquired from Greek shipowner, says report.
EU pumps funds into Greek LNG bunkering study Project to complete by this year.
VLGC player receives 'eco' newbuilding Vessel is first of 15 deliveries it expects in 2015.
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