Savannah scores record month Box volumes in April at the Port of Savannah increased by 25.8% year on year to 335,337 teu: a new monthly record for America's fourth-largest container port. Savannah's previous monthly record of 333,058 teu was recorded in March. Georgia Port Authority (GPA) executive director Curtis Foltz
Cosco Guangdong wins OSV order China's Cosco shipyard's group has won a contract for its Guangdong shipyard to build a multipurpose offshore support vessel. This latest order is for a 65 m TAERRV (tanker assist/emergency response/rescue/field support vessel). It was placed by Aberdeen-based Sentinel Marine after the owners were
Seafarer found dead on Malta ship A Filipino seafarer was found dead on the Maltese-registered MV Elbella at Marsaxlokk Freeport in Malta on Sunday night. The sailor's body was discovered in a pool of blood with several stab wounds. It was reported that two kitchen knives were found near the body of the victim, who was employed in
Forum fears about fuel siphoning and migrants The 24th Annual meeting of the Asian Shipowners' Forum (ASF) was held in Jeju, South Korea, on 19 May 2015. Hosted by the Korea Shipowners' Association, the forum highlighted the rising fuel siphoning incidents on Asian waters but nonetheless raised concerns that some reports may have unduly
BP and Sinopec form JV in Singapore British oil major BP and Chinese oil company Sinopec Fuel Oil will form a 50/50 marine fuels bunkering joint venture (JV) named as BP Sinopec Marine Fuels. The JV will be based in Singapore, the top bunkering of the world, and leverage both companies' 'existing bunkering locations and activities to
Avance Gas 1Q15 profit jumps on lower bunker costs Avance Gas Holding, the Oslo-based listed VLGC owner, has reported a rise in net profit in 1Q15, helped by a fall in bunker costs. Group net profit rose to USD23.9 million in three months to 31 March from USD6.1 million in three months to 28 February last year. The company changed its financial
Rolls-Royce to cut 600 Marine business jobs Power system supplier Rolls-Royce Holdings said it will cut 600 jobs in its Marine business area in order to accelerate cost-reduction programmes. "We have today announced that we will accelerate cost-reduction programmes in our Marine business and reduce the number of employees by a further 600 by
ICTSI's Laguna box terminal starts upgrades Laguna Gateway Inland Container Terminal (LGICT), the dry port unit of International Container Services Terminal Inc (ICTSI), has commenced building new facilities that might one day lead to a rail connection. The Laguna dry port site, located in Calamba City, 58 km south of Metro Manila, will
Thailand's TTA sinks to loss Thai shipping and commodities group Thoresen Thai Agencies (TTA) saw a reversal of fortunes when it posted a 1Q15 net loss of THB288.3 million baht (USD8.6 million). This is in marked contrast to the profit of THB182.7 million reported in the same period last year. With interests in transport,
CMA CGM more than quadruples Q1 profits French container line operator CMA CGM has followed up on its strong 2014 profit performance with a spectacular first quarter one, posting net profits up more than fourfold year on year to USD406 million. The result compares with a USD97 million net profit in the first quarter of last year and a
LA-Long Beach box volume falls Box volume at America's largest container port complex fell 5.2% year on year in April as Los Angeles and Long Beach continued to work through congestion backlogs. After surging 63.2% year on year in March, total imports at the two ports fell 2.2% to 645,516 teu compared with April 2014. Exports
South Korea, India to co-operate in maritime sector Indian prime minister Narendra Modi's state visit to South Korea has resulted in the two countries signing a memorandum of understanding (MOU) to co-operate in maritime-related matters. A statement issued by South Korea's Ministry of Oceans and Fisheries on 19 May said that South Korea and India
Yang Ming gets new ship, predicts loss for 1H15 Taiwanese carrier Yang Ming Marine took the delivery of a new 4,662 teu box ship on 18 May, while predicting a loss for the first half of 2015. The new ship, YM Express, is the last of the five 4,662 teu container ships built by CSBC Corporation for Yang Ming. The ship is 259 m long and 37.3 m
Japan ship exports down in April Orders at Japanese shipyards continue to fall as investment appetite in dry bulk carriers wanes. Japanese shipyards specialise in building dry bulk carriers. Figures from the Japan Ship Exporters' Association (JSEA) showed its member shipyards clinched 22 export orders totalling 1,369,550 gt in
CSSC chairman resigns Shanghai-listed China State Shipbuilding Corporation (CSSC) announced on 18 May that its chairman Hu Wenming resigned. According to the company's filling to the Shanghai Stock Exchange, his new position has not been released. Hu also resigned from his role as the director and member of the
Mermaid Maritime posts losses for 1Q15 Singapore-listed offshore services provider Mermaid Maritime posted a loss of USD15.9 million for the first quarter that ended on 31 March, compared with a net profit of USD5.2 million in the same period last year. The company's service income fell by 4.6% to USD60.8 million in the first quarter of
Singapore seizes huge illegal ivory shipment Singaporean authorities have made its second-largest seizure of illegal ivory in 13 years. After receiving a tip-off, the Agri-food and Veterinary Authority of Singapore (AVA), helped by Singapore Customs and the Immigration & Checkpoints Authority of Singapore, seized 3.7 tonnes of illegal ivory,
Ezion denies claims of breaching agreements Singapore-listed offshore services provider Ezion Holdings refuted claims of breaching charter agreements and said the claims were "frivolous and without merit". According to the company's filing to the Singapore Exchange, Ezion has three service rigs that are currently working in the North Sea,
Shippers worry over growing liner alliances The Singapore National Shippers' Council has expressed concern as liner alliances are becoming increasingly powerful. Maersk Line has a vessel-sharing arrangement with Mediterranean Shipping Company, and CMA CGM, United Arab Shipping Company, and China Shipping Container Lines comprise the Ocean
SK Shipping's 1Q15 profit surges 876% South Korea's third-biggest shipping company SK Shipping said on 18 May that its net profit in the first quarter in 2015 jumped 876% year on year (y/y) to KRW28.5 billion (USD25.6 million). Operating profit, which are earnings from the company's core business, rose 82% y/y to KRW57.5 billion. SK
Hapag-Lloyd stake pushes CSAV back into profit First-quarter net profit of $70.9m includes $59.8m attributable to tie-up
International Salvage Union raises concerns about fall in LOF cases Traditional contract has many benefits, trade body insists
Oceanbulk Containers eyes Wall Street Oaktree-Pappas boxship venture emerges as contractor of six ships at SWS
Product tanker owners: prepare for spectacular surge in third quarter Middle Eastern product exports will rise dramatically from mid-July onwards, says expert
Modi hints at partnerships between Indian yards and Hyundai Heavy Industries South Korean shipbuilder eyes Gail's expected jumbo order for up to 11 LNG tankers
John Lu calls on Singapore to scrap antitrust immunity for box carriers Industry veteran steps down as SNSC chairman after 18 years but continue to be a champion for shippers in parting speech
Ireland sees port volume growth in first quarter Gains in all major cargo categories, says IMDO
Rickmers poaches Oldendorff veteran Scharffetter to head maritime services from August
JMU posts operating profits up 47% Japan's second largest shipbuilder bucks industry trend but net results are hurt by EAS investment
Hamburg loses ground on box rivals German port feels impact of Russian sanctions as container volumes fall 2.3% during the first quarter
Regional Container Lines posts $5.2m profit Liftings decline, but so too have costs
BP and Sinopec in worldwide bunkering joint venture Application in China has been cleared by anti-competition regulators
Antwerp offers green ship discounts Some vessels could receive 30% cut in port dues as new reduction is added to existing Environmental Ship Index discount
ICTSI inland port to help ease Manila congestion Logistics terminal 35 miles from MICT will be linked by rail connection
Braemar profits but merger costs, offshore and dry bulk present challenges Pressures mount in offshore and dry bulk, but Braemar retains longer-term growth ambitions
Berlian Laju Tanker reports $39.5m loss for 2014 Debt-equity swap that would see 27 ships transferred to ownership by lenders has yet to close
Uni-Asia posts 76% decline in net profit Slack dry bulk market hits Singapore-listed, Japan-owned bulker operator
Avance Gas earnings hit by offhire days VLGC shipping demand driven by exports from the Middle East and increased exports from the US, says company
Black Sea wheat exports add life to small bulkers Modest lift for handysize and supramax market as Asian buyers look beyond Australia for wheat supplies
April deliveries see the world cellular fleet hit 5,087 ships While a large number of vessels joined the fleet last month, this was not matched by any great number leaving service
Star Bulk raises $176m from share offer Nasdaq-listed company falls short of its $180m target
US trade commission rejects duties on Chinese built containers A U.S. trade commission has ruled against making temporary duties on Chinese manufacturers of 53-foot containers permanent, dealing a blow to the North American manufacturers that accused their Far East competitors of dumping products in the U.S. market. The ruling by the U.S. International Trade Commission is a boon for U.S....
Midwest Association of Rail Shippers to Explore Market Changes "Shippers and Rails Adapt to Changing Markets" will be the theme for the 245th meeting of the Midwest Association of Rail Shippers (MARS) to be held July 13-14, 2015 at the Grand Geneva Resort in Lake Geneva, Wisconsin. "Shippers and railroads are in the middle of ever-changing market conditions" said MARS...
US e-commerce sales break another quarterly record Online retails sales in the U.S. marked another record-breaking quarter in the first three months of 2015 after an especially harsh winter kept many consumers inside, shopping from the warmth of their own homes. And warmer weather isn't expected to drive down e-commerce sales. In fact, with the release of new...
Old Dominion Named to Forbes Magazine's 'Best Employers 2015' List THOMASVILLE, N.C. (May 11, 2015)- Old Dominion Freight Line, Inc. has been named to Forbes magazine's "Best Employers 2015" list. The 500 employers on Forbes' list were chosen based on an independent survey of 20,000 American employees working for large U.S. companies and institutions, and U.S. divisions of international firms, according to...
US truck tonnage drops as economy stays stubbornly 'soft' U.S. truck tonnage dropped 3 percent in April from March, the American Trucking Associations said, as retail sales stayed flat and spring seemed to lack spring. Year-over-year, truck tonnage rose 1 percent, a significant drop from a 4.2 percent gain in March, the ATA said when releasing its monthly For-Hire Truck...
US footwear importers to race even faster to Southeast Asia with trade deal Footwear importers are doing more business in Southeast Asia than ever before, and imports from that region will grow even faster if the U.S. approves the Trans-Pacific Partnership trade agreement. Southeast Asia's increase in market share is coming at the expense of China and Hong Kong, although China has such a...
Portal allows Florida East Coast Railway shipper to track containers Florida East Coast Railway Tuesday unveiled a new online portal that allows the regional railroad's customers to track freight shipments and equipment across its network. "The FECR Connect portal makes scheduling, planning and tracing shipments efficient and convenient for our customers," James R. Hertwig, railway president and CEO, said in a...
Maersk, CMA CGM to push aggressive Asia-Europe rate hikes Despite an environment of overcapacity, two of the largest carriers in the Asia-Europe trade intend to increase freight rates on June 1. Maersk Line announced a general rate increase of $800 per 20-foot container unit and CMA CGM announced its intention to increase freight rates by $1,000 per TEU in the...
Li Tong Group Executive Linda Li to Speak Hi-Tech and Electronics Supply Chain Summit - Europe LTG, which optimizes Reverse Supply Chain Management (RSCM) services for technology and telecom, is pleased to announce that Linda Li, the company's executive director and corporate vice president, will speak at the 9th annual Hi-Tech and Electronic Supply Chain Summit - Europe.The summit, of which LTG is a Gold Sponsor,...
BDP International Celebrates a Decade of Success in Korea BDP International (BDP), one of the world's largest privately owned logistics and transportation companies, today celebrated the tenth anniversary of its operations in the Republic of Korea. During the last decade, BDP Korea has grown to become one of the company's strongest Asian units and a key part of its future...
C.H. Robinson to accelerate global forwarding After a first quarter of double-digit net revenue expansion in ground, air and ocean transportation, C.H. Robinson Worldwide is preparing for more growth in international markets. On Monday, the largest U.S. third-party logistics and brokerage company named Mike Short president of it Global Forwarding division. The appointment of the former...
US containerized exports to Africa plunge while imports rise Sluggish demand and unfavorable exchange rates are driving down U.S. containerized exports to Africa and having the reverse effect on American imports from the continent. U.S. exports to Africa tumbled 8 percent year-over-year in 2014, according to data from PIERS, a sister product of JOC.com within IHS Maritime & Trade. Click to...
Banana shippers scramble to find capacity Long-haul banana trades continue to flourish as consumers in Asia add more of the fruit to their diets. While container lines gain market share, Ecuador based shipbroker Sopisco argues that specialized liner services could claw back some of the business. Bananas remain a key commodity for specialized reefer carriers and container...
Reefer operators' optimism rises on spot rate increases The southern hemisphere peak reefer season has been better than expected for specialized reefer operators. Fruit volumesseem to be increasing in some key trades, butlogistical bottlenecks and competingdemand from both fisheries and seafood exporters have really turned things around. From an earnings perspective, reefer ship operators can breathe a sigh of...
Antwerp to offer discount to ships that cut emissions LONDON - The port of Antwerp will offer discounts to ships deploying alternative technology to reduce emissions. The new discount, effective on June 1, comes on top of the existing Environmental Ship Index, which means that ships can benefit from a 30 percent reduction in port dues for every call, the...
Frankfurt, Amsterdam air cargo traffic stalls LONDON - Europe's top air cargo hubs are feeling the impact of a slowing Chinese economy and a fragile recovery in the eurozone with traffic declining, stalling or growing at a snail's pace in recent months. Frankfurt, Europe's leading freight airport, saw volume edge just 0.8 percent higher year-on-year in April...
APL to launch new intra-Asia service Container carrier APL said it will replace its current Singapore West Asia Express (SWX) service in the intra-Asia trade with a new weekly service, branded the Asia Sub-continent (AS1), starting at the end of this month. The AS1, employing six vessels, will commence from Qingdao on May 23 with the following...
Inland port to raise top Manila terminal capacity by 10 percent HONG KONG - Measures to improve productivity in Manila continued with the expansion of an inland port south of the capital that will increase capacity at Manila's main terminal by 10 percent and the recommissioning of a disused rail link to the port.Laguna Gateway Inland Container Terminal, the dry port ooperated...
Trans-Pacific lines explain why TEU rates should be 90 percent of FEUs HONG KONG - The Transpacific Stabilization Agreement has responded to queries from forwarders about contract guidelines introduced this year that recommend its member carriers set rates for 20-foot containers at 90 percent of the rates charged for FEUs.In setting the contract guidelines late last year, the TSA said the difference...
Air cargo spends most of its time on the ground HONG KONG - Products being shipped as air cargo spend up to 90 percent of the transport time on the ground waiting to be processed, according to IATA director general and CEO Tony Tyler.The former Cathay Pacific chief executive was commenting after the signing of a memorandum of understanding with...
Nasdaq warns Paragon Paragon Shipping says it plans to take action after the Nasdaq Stock Market warned it could lose its listing if it stock price remains low.
Vale to sell eight VLOCs Vale concluded a deal to sell four very large ore carriers to China Ocean Shipping Company (Cosco) and expanded an agreement with China Merchants Energy Shipping (CMES) to unload four more.
Judge OKs Oceanografia plan A Mexican federal judge has approved Oceanografia's bid to exit court-supervised restructuring.
Pioneer's loss grows Bulker owner Pioneer Marine has reported a bigger net loss for the fourth quarter but saw revenue surge thanks to vessel additions.
NewLead ties up tanker Greece's NewLead Holdings has won a potential five-year period deal for one of its bitumen tankers.
Bergen closes on $33m sale Bergen Group has finally been successful in selling its Hanoytangen-based rig business.
CSAV turns around loss Chilean owner CSAV has returned to profit in the first quarter thanks to its merger with Hapag-Lloyd.
NYK: no VLCC spill Japan's NYK has denied one of its VLCCs leaked oil at the Keihin Kawasaki berth in Tokyo Bay.
More mergers to follow Braemar Shipping Services has ambition to follow up last year's merger with ACM Shipping within the next 12 months.
Antwerp's eco-discount The Belgian port of Antwerp is offering to cut fees for vessels using new technology to reduce emissions.
Rem's profit slips Rem Offshore has seen its profit squeezed during the first quarter as financial expenses rose.
Dof fixes to Petrobras Dof Subsea has chartered out one of its newly delivered newbuildings to Petrobras on a long-term basis.
Murray Grindrod dies South Africa's Grindrod has announced the death at 79 of its long-serving former chairman Murray Grindrod.
BP's bunker buddy BP is teaming up with China's Sinopec to sell bunkers in Singapore.
Bulker runs aground Shipping traffic on the St Lawrence seaway has been re-established after being temporarily disrupted due to a bulker grounding.
DNV GL on the rise Class society DNV GL has posted a stronger profit in the first full year since its merger.
Star Bulk raises $176m Star Bulk Carriers has completed a direct public offering by raising $176m.
Cosco eyes overseas deal China Cosco Holdings Co (CCHC) is suspending its shares pending an "important" announcement about an overseas tie-up.
Solstad turns red Solstad Offshore slipped into the red in the first quarter but its underlying numbers were better than expected.
Avance rates edge up Oslo-listed Avance Gas Holding has remained firmly in profit in the first quarter as the VLGC market remained strong.
Braemar stronger after merger UK broking group Braemar Shipping Services has posted a bigger operating profit in the year to 28 February, but the costs of its merger with ACM has hit the bottom line.
Better for owners to scrap Bulker owners are opting to scrap their vessels rather than lay them up, which may be a good thing according to investment bank UBS.
West coast ports mixed US west coast ports reported mixed container throughputs for April as they continue to feel the impact of the recent port strike.
Write-downs dent Uni-Asia Uni-Asia, the Japanese bulker to hotels group, has reported a 76% decline in first quarter net profit due to the weak dry cargo market.
Rolls-Royce to sack 600 Rolls-Royce is to make a further 600 people redundant from its marine division in response to challenging market conditions.
Norway's 'fuel saving' ferry becomes operational Uses 150 kWh of electricity per route, the equivalent of three days power used by an average household.
Aegean hoping to recoup part of O.W. Bunker and other losses Trying to work out solutions to collect unpaid bunkers supplied on behalf of companies that have since gone bankrupt.
Oil spill at US Port of Albany 400 gallons of oil leaked from portable fuel tank.
Aegean in $28 million lawsuit against Hess Claiming damages for having been misinformed when buying its US east coast bunkering business.
Fuel oil emulsion: Trial points to significant savings Preliminary results continue to look promising.
Belgium port bids to reduce particulate pollution By offering discounts to ships with scrubbers.
Russian sanctions hit port throughput Hamburg abandons its 2015 container target.
Bulker detained by USCG Vessel having fuel-related loss of propulsion.
New threat to bunkering in Russia Tax authorities went to limit 'duty free' outlet for oil products.
BP, Sinopec in bunkering joint venture BP Sinopec Marine Fuel will have a strong focus on Chinese shipping companies.
Majority shareholder considers sale of Singapore oil terminal After scrapping plans of an IPO for the terminal company last year.
Kra Canal: China and Thailand sign MOU Vessels will be able to bypass the Malacca Strait.
Gazprom Neft mulls LNG engine retrofit project Company in move to grow LNG bunkering business.
Chinese fuel oil imports up marginally in May Low demand for fuel oil from bonded bunker suppliers.
Baltic authority to check on ECA compliance Checks to be conducted on vessels across Russian ports.
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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